China consultancy crackdown sends jitters across foreign business

News Snapshot:

Overseas business lobbies in China said on Tuesday they were unnerved by a sweeping crackdown on consultancy and due diligence firms that is damaging investor confidence in the world’s second-largest economy. The European Union’s ambassador to China also raised concern about what state media described as “intensifying” law enforcement aimed at protecting national security, and a broadening of legislation that criminalizes the transfer of information and data. The crackdowns “send a worrying signal and heighten the uncertainty felt by foreign companies operating in China,” the E.U.’s Chamber of Commerce in China said in a statement. “The developments are not conducive...