00:00In other news, China has introduced sweeping new regulations that tighten oversight of overseas transactions involving Chinese investors, technology transfers,
00:10data and national security.
00:12The measures will take effect on July 1st and follow Beijing's order last month, requiring Meta to unwind its acquisition
00:19of AI startup menace.
00:22One of the most significant provisions requires government authorization before restricted Chinese goods, technologies, services or related data can be
00:30transferred overseas.
00:32For the first time, the regulations establish a comprehensive legal framework that allows Chinese authorities to reverse completed overseas transactions.
00:40The new regulations also prohibit the cross-border transfer of talent in sensitive industries without prior government approval.
00:47The measures target practices similar to those used by Manus when it relocated employees and operations to Singapore, before their
00:54acquisition by Meta.
00:56Chinese authorities previously said the Meta-Manus deal violated outbound investment laws, although they did not specify the nature of
01:03the alleged breaches.
01:05Analysts say the rules could affect Chinese companies seeking to move capital and operations abroad to access international funding and
01:12reduce competitive pressures at home.
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