Blocking of Meta’s AI startup buy raises risk for cross-border China tech deals

China’s blocking of Meta’s acquisition of AI startup Manus will heighten the risk for global investors looking to invest in advanced tech firms with ties to the country amid Beijing’s expansion of jurisdictional reach to safeguard strategic assets.

The National Development and Reform Commission (NDRC), in a ​rare case, ordered on Monday that the $2-billion-plus acquisition by Meta be unwound under Beijing’s national security review mechanism of foreign investments that came into effect in 2021.