China formalizes sweeping overseas investment rules after blocking $2 billion Meta-Manus deal
China issued comprehensive new regulations tightening control over overseas deals involving Chinese investors, AI technology, and data. Effective July 1, the rules formalize Beijing's power to unwind completed transactions and ban cross-border talent transfers without approval. The move comes a month after China forced Meta to abandon its $2 billion acquisition of AI startup Manus, signaling heightened scrutiny of tech exits.