China Blocks Meta's $2B Manus Deal, Setting Precedent for Overseas Startups

China's National Development and Reform Commission rejected Meta's acquisition of Singapore-based agentic AI startup Manus on April 27, citing national security and export control concerns. The move marks the first time Beijing has unwound a foreign acquisition of a Chinese-origin company that had already relocated offshore. For Chinese startups, the precedent signals that relocation alone no longer shields deals from regulatory intervention.