Billionaire investor Mark Mobius says he's been able to get his money out of China, but investing in the country is still a 'dilemma' amid national security laws
Mark Mobius said he was able to take his money out of China, but investing in the country is still a concern amid national security laws, the billionaire warned.from his HSBC account based in Shanghai, citing government capital controls that limit the flow of money out of China. "As soon as we had the program, it went viral, and my bank immediately called me from Shanghai and said, 'let's do something about this,'" Mobius said in a.
Still, Mobius remains wary on investments headed into the country, as China's national security laws could put American firms' assets or intellectual property at risk. "China is also trying to attract American companies to come into China, and of course, they will try to get information from these companies as much as they can. So it's a real dilemma," he said., which have broadened the definition of spying and have led Chinese regulators to scrutinize foreign businesses operating in the country.
Recently, authorities questioned staff and raided the China-based offices of various American firms operating in the country, leading the US Chamber of Commerce to call the new laws a"serious concern.", as well as Chinese investments in the US. Still, American firms with key production and manufacturing ties in the country are keen to continue business: on Tuesday,
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD flat-lines below 1.3600 mark as sliding Oil prices offset modest USD weaknessUSD/CAD flat-lines below 1.3600 mark as sliding Oil prices offset modest USD weakness – by hareshmenghani USDCAD Bonds Fed Inflation Currencies
Read more »
Mark Hamill Comments on Whether He’ll Be in Daisy Ridley Star Wars MovieStar Wars alum Mark Hamill has addressed his possible involvement in Lucasfilm's upcoming Daisy Ridley-led movie.
Read more »
Biden attends memorial Mass to mark 8 years since son Beau’s death from brain cancerBiden attends memorial Mass to mark 8 years since son Beau's death from brain cancer.
Read more »
Mark Zuckerberg marks Memorial Day with Murph Challenge honoring fallen Navy SEALThe tech boss, who has taken up Brazilian jiujitsu, authored a Facebook post that included a selfie photo in which he is seen wearing a weighted vest.
Read more »
Gorillaz to Mark Dog Days of Summer With 'Getaway Shows'Gorillaz have announced a short run of shows in the U.S., which will take place in September. Kaytranada, Lil Yachty, and Remi Wolf will support all dates.
Read more »
Bidens mark eight years since Beau Biden's death | CNN PoliticsPresident Joe Biden and first lady Dr. Jill Biden on Tuesday attended a memorial mass for Beau Biden marking eight years since his death from cancer, according to the White House.
Read more »