Beijing's surprise intervention on Meta's Manus rattles tech founders, VCs eyeing 'China shedding' 

In this article

Tech circles from Silicon Valley to Shenzhen buzzed when Meta

acquired Manus, a Singaporean AI startup with Chinese roots, for $2 billion late last year.

For Chinese founders striving to build products that could rival American peers, the deal felt like a validation that an intricate offshore structure – known as “Singapore washing” where companies relocate to the city state – was the answer to circumvent scrutiny from both Beijing and Washington.

Within days, China’s surprise intervention on the deal quickly shattered that hope, as Beijing stepped up efforts to discourage Chinese AI founders from moving business offshore.