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China toughens rules on outbound investment after Meta-Manus contention

BY Reuters | ECONOMIC | 10:31 PM EDT

BEIJING, June 1 (Reuters) - China issued sweeping new rules on Monday, widening regulators' powers to scrutinise overseas deals involving Chinese investors, technology, data and national security, a month after Beijing ordered the unwinding of Meta's acquisition of AI startup Manus.

The rules, published by the State Council, or cabinet, will take effect from July 1. One of the most significant requires authorisation for exports of restricted Chinese goods, technologies, services or related data.

The rules also bar indirect transfers through cross-border deployment of technical staff and guidance, training programmes or other arrangements. (Reporting by Eduardo Baptista; Editing by Clarence Fernandez)

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