(Bloomberg) — Beijing’s crackdown on foreign consulting firms in China has found its first official public target: Capvision Pro Corp. Most Read from BloombergVanguard’s Trillion-Dollar Man Leads a Fixed-Income RevolutionTrump Liable for Sex Abuse, Must Pay $5 Million to CarrollSteve Schwarzman Holds Off Giving Money to DeSantis After Meeting HimItaly Intends to Exit China Belt and Road Pact as Relations SourGoldman to Pay $215 Million to End Case on Underpaying WomenThe global expert network w
Beijing’s crackdown on foreign consulting firms in China has found its first official public target: Capvision Pro Corp.
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The global expert network was the only company to be named in a state media report this week announcing the country’s nationwide anti-espionage campaign. While China’s recent push to tighten foreign access to sensitive information has affected other firms, such as domestic data company Wind Information Co., Capvision is facing a unique level of public scrutiny.
One state broadcaster aired footage this week of security officials seemingly raiding the firm’s offices, questioning employees and seizing more than 20 computers — a rare public display of state action against a foreign company. It’s unclear exactly why Capvision, in particular, has attracted such outsized attention.
Here is what we know about the company:
1. What is Capvision?
Capvision was founded in 2006 by a team of former management consultants and investment bankers, including two graduates from the University of Pennsylvania’s Wharton School who had previously worked at Bain & Co. Xu Rujie is the CEO, according to its 2022 prospectus for a potential public listing. Today, it runs one of China’s largest expert-research platforms. Headquartered in Shanghai and New York, the company has a global network of more than 450,000 experts providing services such as industry research and business consulting.
