Capvision says it has addressed China’s concerns about national security
By Juliana Liu and Wayne Chang, CNN
Hong Kong (CNN) — Capvision, an international advisory firm whose offices in China were raided by officials, says it has successfully completed a national security inspection overseen by the Chinese government.
Chinese media reported in May that state security authorities had raided multiple offices of the company, a so-called expert network based in Shanghai and New York which connects its clients with people who provide specialist knowledge in a range of industries.
The raids were part of a broader crackdown on the consulting industry by Beijing as it seeks to tighten control over what it considers sensitive information related to national security.
“Our firm has reflected seriously, plugged the loopholes and established a more comprehensive and systemic compliance system and implementation plan,” Capvision said in a statement issued Tuesday on Chinese social media platform Wechat.
“We have deeply realized that the consulting sector must step up the awareness of safety and security. We must resolutely plug the management loopholes and enhance our active prevention capabilities,” it said.
Capvision has not responded to a CNN request for comment. It is unclear whether the company was back to operating as usual.
State media had accused it of helping to leak sensitive military information to foreign forces.
The raids on Capvision, as well as investigations into other consultancy firms, raised alarm in the international business community at a time when the Chinese government is trying to woo foreign investment to help revitalize a slowing economy.
In July, China announced it had fined Mintz Group, an American corporate due diligence firm, about $1.5 million for allegedly conducting unapproved statistical work in the country. The fine came to light months after authorities closed the firm’s Beijing office in March and detained five of its local employees.
In April, police questioned staff at the Shanghai offices of global consulting giant Bain & Company.
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