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China formalizes tougher investment rules after blocking Meta's $2bn Manus acquisition

Beijing has codified a stricter framework for outbound-investment review, giving regulators expanded powers to block cross-border AI deals involving Chinese-origin technology, talent, or intellectual property. The new rules, effective July 1, formalize the approach used to unwind Meta's $2bn Manus acquisition in April and close the offshore-restructuring exit route many Chinese AI startups have relied on.