Capvision Pro Corp. vowed to follow China’s national security laws and set up a committee to manage compliance issues in Shanghai after the consulting firm was targeted by China’s new anti-spy campaign.
(Bloomberg) — Capvision Pro Corp.
vowed to follow China’s national security laws and set up a committee to manage compliance issues in Shanghai after the consulting firm was targeted by China’s new anti-spy campaign.
The creation of the committee is intended to help Capvision meet requirements from Chinese authorities to rectify its operations, the company said in a statement late Wednesday.
The company — which has headquarters in New York and Shanghai — vowed in its statement to follow China’s national security laws and regulations, saying its “normal businesses” are protected and supported by the nation’s security authorities.
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The firm has been accused of leaking state secrets, according to state broadcaster CCTV, which cited a Shanghai-based security official as saying Capvision had no compliance structure for managing security risks.
The global expert network was the only company to be named by state media reports this week announcing the country’s nationwide anti-espionage campaign.
While other firms have been affected by China’s recent push to tighten foreign access to sensitive information, Capvision has attracted outsized attention.
The new committee consists of three board directors, including Xu Rujie, chairman of Capvision Shanghai.
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