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sw04ca t1_jdienjn wrote

Seems like they were digging into something that the Chinese would rather not have broadcast. It's pretty hard to do due diligence in China, as so much of the economy is cloaked in lies and the entire system is a grift.

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codydodd t1_jdiscrc wrote

But this will surely rebuild global investor confidence in China! /s

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JennysDad t1_jdja2lb wrote

Yea, from what I've been reading online the US dollar is about to be replaced with the Chinese yuan.

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Cr33py07dGuy t1_jdjq6zy wrote

The petroyuan! „Hey can I exchange this yuan for something else?“… „No.“

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One_Atmosphere_8557 t1_jdir0kc wrote

These are political prisoners taken as retaliation for whatever the CCP has their collective panties in a bunch about this week

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cboel t1_jdiyyv7 wrote

>retaliation for whatever the CCP has their collective panties in a bunch about this week.

It is and China isn't even being diplomatic about it either.

>Neal Dunn, a Republican from Florida, asked with similar bluntness whether ByteDance has “spied on American citizens” – a question that came amid reports the company accessed journalists’ information in an attempt to identify which employees were leaking information. Chew responded that “spying is not the right way to describe it”.
>
>src: https://www.theguardian.com/technology/2023/mar/23/key-takeaways-tiktok-hearing-congress-shou-zi-chew

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JubalHarshaw23 t1_jdjdox4 wrote

Ironic that a Republican from the state trying to criminalize Journalism, is the one complaining about China spying on journalists.

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bobby_j_canada t1_jdlypdw wrote

Yeah, we're now entering the "petty tit-for-tat political grandstanding for your domestic audience" phase of the US-China relationship.

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rs725 t1_jdjapl6 wrote

What exactly is a "due diligence firm"?

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Scanningdude t1_jdjkeeb wrote

"Due diligence (DD) is an extensive process undertaken by an acquiring firm in order to thoroughly and completely assess the target company's business, assets, capabilities, and financial performance. There may be as many as 20 or more angles of due diligence analysis."

Basically from what I can ascertain, this was a consulting firm that did this type of work.

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Crowasaur t1_jdjlvzl wrote

I can see how the CCP could see this as "spying".

I expect retaliations against Canada as well with what is happening in Parliament

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Scanningdude t1_jdk4rou wrote

This is exactly why I think this went down. China didn’t want something to get out to the global financial markets and were literally willing to take this action to make sure that didn’t happen. Just my guess but I’d bet that’s the case.

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DarthLysergis t1_jdkxudn wrote

To be fair though, a consulting firm whose business is looking into businesses would be a beautiful cover for an intelligence agent. Not saying it is the case, but it is reasonable to assume that an authoritarian government may see it as a possibility.

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MN8616 t1_jdkv0xg wrote

These types of firms are also hired to insure companies complying with terms of their contracts for things like maximum hours, minimum wages, child labor; i.e. a whole host of things important to western companies buying their products.

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macross1984 t1_jdjhujz wrote

Another reason foreign firms should think twice about doing business in China.

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autotldr t1_jdiepla wrote

This is the best tl;dr I could make, original reduced by 65%. (I'm a bot)

> Chinese authorities have raided the Beijing office of US-headquartered due diligence firm Mintz Group and detained five staff.

> "We can confirm that Chinese authorities have detained the five staff in Mintz Group's Beijing office, all of them Chinese nationals, and have closed our operations there," the company said in a statement on Friday, the Reuters news agency reported.

> Reuters, citing an anonymous company source, had earlier reported that the office was raided on March 20 and the detained staff were being held incommunicado in a location outside of Beijing.

Extended Summary | FAQ | Feedback | Top keywords: company^#1 Beijing^#2 office^#3 Mintz^#4 Group^#5

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miranomejoda t1_jdizq8c wrote

$#@! china!

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Miserable_Object9961 t1_jdlugfr wrote

And we've yet to round up the staff working for secret police stations in US and Canada. Our leaders have gotten so soft!!!

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