Meta’s acquisition of Manus: the NDRC requires Moonshot AI, Step Star, and others to reject U.S. capital; ByteDance is also affected and restricted

ME News, April 24 (UTC+8), Bloomberg reported citing sources that Chinese regulators, including the National Development and Reform Commission (NDRC), have in recent weeks asked multiple AI companies to reject U.S. capital in their fundraising rounds unless explicitly approved by the government. Moonshot AI and Stepfun, both preparing for IPOs, have already received relevant guidance from the NDRC. ByteDance has also been told not to introduce new U.S. investors through methods such as secondary share sales without approval.

This move is part of Beijing's escalating regulatory response following Meta's $2 billion acquisition of Chinese AI agent startup Manus. Previously, China imposed exit bans on Manus co-founders Xiao Hong and Ji Yichao, and is reviewing whether the transaction violates technology export controls and foreign investment regulations. (Source: Bloomberg)