China reiterates its intentions

The former Bank of America executive has relocated from London to Shanghai.

China is strengthening oversight of outbound investment through new regulations from July 1 that are designed to safeguard national interests, following an earlier ban on Meta’s acquisition of AI firm Manus.

Chinese regulators have blocked Meta’s acquisition of AI firm Manus, and fined a Chinese food firm using new overseas listing rules, as tech security concerns rise.

The HKEX listed aluminium giant will use the money to stockpile bauxite, refinance debt, to invest in overseas projects, share repurchases and for general corporate purposes; it also made a concurrent share repurchase.

From May 1, Cindy Lo will become regional managing partner and Roger Lui will become senior partner, both for Greater China.

Three brokers, including Hong Kong’s largest online brokerage Futu, have been heavily penalised by Chinese regulators, in an effort to clean up market misconduct and to curb illegal outflows.