China has launched a nationwide anti-espionage crackdown on consulting firms, according to state media, accusing one global company of leaking state secrets and having ties with foreign intelligence agencies.
On orders from China’s central government, authorities carried out synchronized operations in cities including the financial powerhouses of Beijing, Shanghai, Shenzhen and Suzhou, a provincial TV channel in Jiangsu province reported Monday night. The state broadcaster didn’t say where it got the information or provide a timeframe for the raids.
Capvision said in a statement posted to its WeChat account on Monday evening that it will resolutely stick to national-security policies and take the lead to guide the healthy development of the consulting industry. US consultancies—often used by overseas investors and multinational companies to conduct due diligence and research in China—are particularly in the spotlight. In recent weeks, authorities have questioned staff at the China offices of US consultancy Bain & Company and targeted New York-based due-diligence enterprise Mintz Group.
The report cited a police officer from Shanghai’s national security bureau as saying Capvision also accepted consulting projects in sensitive fields such as national defense and cutting-edge technology. This compelled its staff members to call military enterprises and sensitive research units for information—both areas where Washington has imposed trade restrictions on China in recent months.
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