China has released five local staff members of the US-based due diligence firm Mintz Group after they were detained in March 2023, the company announced this week, Al Jazeera reports.
The detentions, along with subsequent raids on other foreign consultancy firms like Bain & Company and Capvision Partners, had raised concerns among international businesses operating in China.
“We understand that the Mintz Group Beijing employees who were detained, all Chinese nationals, have now all been released,” a Mintz Group spokesperson said in a statement. “We are grateful to the Chinese authorities that our former colleagues can now be home with their families.”
The release comes shortly after the conclusion of the China Development Forum, a key event where Beijing seeks to attract foreign investment. This year’s forum, which wrapped up on Monday, saw the attendance of numerous top business leaders, including Apple CEO Tim Cook, Pfizer CEO Albert Bourla, and Saudi Aramco CEO Amin Nasser.
The timing of the release coincides with renewed efforts by the Chinese government to reassure foreign investors. During the forum, Chinese Premier Li Qiang pledged to expand market access for foreign firms and urged them to resist rising protectionism.
The Mintz Group, specializing in background checks and investigations into fraud and workplace misconduct, was fined $1.5 million by China’s National Bureau of Statistics last year for allegedly conducting “foreign-related statistical investigations” without proper authorization.
The case highlights the increasingly complex regulatory environment for foreign businesses operating in China, particularly in the fields of consulting and due diligence. Mintz Group employs over 280 investigators across 12 offices in 11 countries, according to its website. The release of its staff marks a potential turning point in relations between China and foreign consultancy firms.
