China warns of espionage threat through consulting firms – World News Network

Date:

Share post:

Taipei [Taiwan], April 1 (ANI): China’s Ministry of State Security has issued a fresh warning, underscoring the ongoing threat posed by overseas spy agencies camouflaged within consulting firms, purportedly aimed at acquiring state secrets, Voice of America (VOA) reported.
Through a six-minute video released on the ministry’s official WeChat social media account, a real-life case is depicted where foreign spy agencies allegedly orchestrated a consulting firm to pilfer classified information from a Chinese corporation seeking international investments.
This disclosure coincides with Chinese leader Xi Jinping’s recent meeting with American CEOs, attempting to assuage concerns and affirm China’s commitment to openness for business amidst economic uncertainties and authoritarian signals from the government, according to VOA.
In the past year, foreign investment in China has dwindled, propelled by shifting supply chains and reinforced by China’s implementation of stringent anti-espionage measures, including exit bans and crackdowns on consulting and due diligence firms. Concurrently, the Ministry of State Security has intensified its social media campaigns to alert the public about foreign espionage activities, punctuated by the release of four videos since the inception of its social media account last year.
The latest video, designed with the ambiance of a spy thriller, seeks to convey the modus operandi of espionage activities orchestrated through consulting agencies. It narrates the tale of a Chinese company executive interrogated by a consulting firm representative, delving into sensitive inquiries encompassing the company’s financial details, product specifications, and military applications.
“The seemingly normal investigations conducted by consulting firms are in fact attempts to illegally acquire our commercial secrets and efforts to suppress our advantageous industries,” the ministry wrote, adding that these consulting firms are accomplices to foreign spy agencies aiming to infiltrate key sectors in China.
Although tailored primarily for a Chinese audience, experts speculate that the underlying intention is to instill a sense of vigilance among Chinese citizens, particularly those employed by foreign entities.
Dennis Wilder, a former US national security official, suggests that such campaigns could induce a chilling effect, heightening apprehensions among Chinese nationals, especially those engaged with foreign enterprises.
Over the preceding year, Chinese authorities have conducted raids on several American companies operating within China, detaining numerous Chinese employees. Among the affected entities are renowned firms like Mintz Group, Capvision, and Bain & Company.
While the focus remains on Chinese citizens, Wilder contends that Beijing’s stringent security measures will inevitably cast a shadow over foreign businesses eyeing the Chinese market.
“They have to understand what their counterparts in China are all about, but if they can’t conduct due diligence, they won’t invest in China,” Wilder told VOA in a video interview.
Echoing these sentiments are findings from a 2023 survey conducted by foreign business groups, indicating a growing inclination among foreign companies to divest from China. Reports reveal declining confidence among American and European companies, with a significant proportion reconsidering China as a primary investment destination due to escalating operational challenges.
Despite the wavering confidence of foreign investors, analysts highlight Beijing’s dual objective of bolstering foreign investor confidence while safeguarding national interests.
“Beijing believes that while they try to attract more foreign businesses to invest in China, they also should ensure key national interests, such as core data or key infrastructure won’t be easily obtained by foreign businesses,” said Hung Chin-fu, a political scientist at National Cheng Kung University in Taiwan.
However, scepticism looms over Beijing’s approach, with foreign businesses expressing apprehensions regarding stringent regulatory frameworks impeding their operations. “At a time when the Chinese government has laid out many red lines in the name of national security, investing in China will be like walking on thin ice for foreign companies,” he told VOA.
Amidst these deliberations, diverging perspectives emerge within China’s leadership echelons regarding the prioritisation of economic growth vis-a-vis national security concerns. While Xi Jinping appears inclined towards prioritising national security imperatives over foreign investments, other leaders, including Premier Li Qiang, may adopt a more nuanced stance, weighing the imperatives of economic growth against security considerations, he told Voice of America. (ANI)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News


Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

India’s travel and tourism sector poised for growth: Projected revenue to reach USD 23.72 bn by 2024 – World News Network

As per Invest India, India announced 100 per cent Foreign Direct Investment (FDI) in tourism-related ventures, including the development of hotels, resorts, and recreational facilities, in a move aimed at fostering growth and development in the tourism sector as of 2023.

Aranthangi’s Elshaddai School Students Achieve Record-breaking Feats and Set Elite World Records – World News Network

Chennai (Tamil Nadu) [India], April 15: Elshaddai Group of Institutions, Aranthangi, proudly presents the Elshaddai World Records Festival 2024, celebrating 4th year of academic excellence. Students showcased exceptional skills, recognized by prestigious record-keeping organizations which includes Elite World Records, Asian Records Academy, India Records Academy, and Tamilan Book of Record, providing inspiration for aspiring achievers. These achievements underscore the school's commitment to nurturing talent and fostering a culture of innovation and excellence.

India’s passenger EV market will hot up in next 3-4 years – World News Network

This EV surge in EV sales can be can be attributed to factors like, government incentive schemes like PLIs, infrastructure development like more EV charging points, increasing urban consumer interest, and government push to meet green target.

Election months typically see less capex utilisation: Bank of Baroda report – World News Network

A capital expenditure, or capex, is used to set up long-term physical or fixed assets.

Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More