Both Bain and Mintz have said they are co-operating with the authorities. The entire industry of corporate investigators who help foreign investors understand what is happening on the ground in China has been rattled. Several other foreign firms that deal in data and intelligence have reportedly faced similar situations. Shortly after, authorities showed up at the offices of Bain & Company, an American consulting firm, where staff were questioned and some electronic equipment confiscated.
In March the local staff of Mintz Group, an American firm that conducts corporate investigations, were arrested in Beijing.
Yet the government is launching sporadic raids on foreign companies. Since lifting self-destructive covid-19 rules earlier this year, China’s leaders have gone on a charm offensive to lure back foreign businesses and investors.
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