Chinese Government is taking actions to penalise people linked to Meta's (META) USD 2bln acquisition of Manus, a Singapore AI start-up, in an effort to discourage Chinese AI execs from moving business offshore, NYT reports

Chinese Government is taking actions to penalise people linked to Meta's (META) USD 2bln acquisition of Manus, a Singapore AI start-up, in an effort to discourage Chinese AI execs from moving business offshore, NYT reports.

The Chinese government's steps to penalize individuals connected to Meta's acquisition of Manus signals an escalation in its stance towards offshore business movements, particularly in AI. This could strain relations with US tech firms and deter future investments, heightening market volatility in related sectors such as equities and tech investments, especially in the US and China.