{
    "success": true,
    "data": {
        "id": 1644433,
        "msgid": "chinese-company-becomes-american-property-xi-jinping-unaccepting-1774882346",
        "date": "2026-03-30 20:30:00",
        "title": "Chinese Company Becomes American Property, Xi Jinping Unaccepting",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Business",
        "summary": "Meta has acquired the Singapore-based AI startup Manus, originally founded in China, for US$2 billion, prompting swift intervention from the Chinese government under Xi Jinping to prevent similar relocations. This 'Singapore Washing' strategy allows Chinese firms to bypass US-China geopolitical tensions and access larger foreign investments, but Beijing is now reviewing the deal for violations and restricting founders from moving abroad. The case serves as a cautionary tale, highlighting how initial development in China is often followed by relocation for global expansion and higher valuations.",
        "content": "<p>Meta (Facebook, WhatsApp, Instagram) has announced the acquisition of\nthe AI startup Manus for US$2 billion (Rp34 trillion). It did not take\nlong for the Chinese government to attempt intervention.<\/p>\n<p>Manus is an AI startup headquartered in Singapore but originally\nfounded in China. The phenomenon of relocating companies to Singapore to\navoid geopolitical conflicts between the US and China is known as\n\u2018Singapore Washing\u2019.<\/p>\n<p>Manus\u2019s headquarters and core team are known to have moved from China\nto Singapore since last year. In this way, the company can access larger\ncapital from foreign investors, including Benchmark, a venture capital\nfirm from San Francisco.<\/p>\n<p>However, China is not staying silent. The Xi Jinping administration\nis reportedly attempting to prevent similar tactics in the future. The\nmethod involves the Xi Jinping administration preventing Chinese AI\nfounders from relocating their businesses abroad.<\/p>\n<p>A Financial Times report states that the Xi Jinping administration is\nreviewing whether there was any violation in the sale of Manus to Meta.\nThis includes prohibiting founders Xiao Hong and Ji Yichao from leaving\nChina via Singapore.<\/p>\n<p>Wayne Shiong, managing partner of Argo Venture Partners, explained\nthat more and more company founders are attempting to start businesses\noutside China. However, they do not conduct significant research and\ndevelopment in their home country, including attempting structural\nchanges.<\/p>\n<p>\u201cThe founders aiming for global expansion and higher valuations will\nstill look to advantages from supporters in the US,\u201d he said, quoted\nfrom CNBC International on Monday (30\/3\/2026).<\/p>\n<p>Meanwhile, Yuan Chao, a lawyer from the Yingke law firm, described\nManus\u2019s actions as a warning for China. That is, companies will develop\nearly-stage technology in China before moving it abroad.<\/p>\n<p>\u201cWhere you build the product is more important than where the parent\ncompany is registered,\u201d said Chao.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/chinese-company-becomes-american-property-xi-jinping-unaccepting-1774882346",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}