Sunday, May 9, 2021
No menu items!
HomeBank CapitalCapital Calls: Counter-espionage push impacts China Inc overseas

Capital Calls: Counter-espionage push impacts China Inc overseas

Reuters
Reuters

(The author is a Reuters Breakingviews columnist. The opinions expressed are their own. Refiles to fix typo in third paragraph.)

HONG KONG (Reuters Breakingviews) – Concise insights on global finance.

———————————————–

EVERY BREATH YOU TAKE. China rolled out new anti-espionage regulations https://www.globaltimes.cn/page/202104/1222185.shtml this week to prevent foreign spies from infiltrating the country’s companies. These, report state media, will entail putting pressure on businesses in sectors including “national defense, diplomacy, economy, finance and high-tech” to reduce unnecessary overseas travel, and to prepare detailed reports on trip agendas, meetings with foreigners, and so on. Staff will be required to bring burner phones and laptops when abroad. There are also concerns about Chinese nationals studying overseas.

Such paranoia will be a problem for Chinese companies competing in overseas markets; in additional to deterring travel, it will complicate retaining skilled foreign staff. Laptop maker Lenovo, for example, employs 52,000 people in 160 countries.

That said, China Inc now has a lot of intellectual property, trade secrets and sensitive emails worth stealing. Just because you’re paranoid doesn’t mean nobody is after you. (by Pete Sweeney)

On Twitter http://twitter.com/breakingviews

Earlier in Capital Calls:

3M suffers from a congo discount

Hella sale hits the gas on German auto M&A

Electric spinoff can supercharge ABB value

Entain may have more hands to play in Aussie M&A

Testing slump hints at pandemic end

The views and opinions…

Source link

banknewsnowhttps://www.banknewsnow.com
Founder and CEO of the premier banking news informational website for the banking/financial industry, and applicants seeking careers exclusively in the finance field.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments

Skip to toolbar