China has released five staff members of the Mintz Group after nearly two years in detention. The New York-based due diligence firm confirmed the news, expressing relief that its employees, all Chinese nationals, are finally back home with their families.
The staff were detained in March 2023 during a crackdown on foreign consulting firms in China. This move was part of a broader series of raids that also affected other companies like Bain & Company and Capvision Partners. Following these events, Chinese authorities fined Mintz Group $1.5 million for conducting “foreign-related statistical investigations” without proper approval.
The release of the Mintz employees comes just after the conclusion of the China Development Forum, a significant event aimed at attracting foreign investment. This year’s forum featured several prominent business leaders, including Apple CEO Tim Cook and Pfizer CEO Albert Bourla. During the event, Chinese Premier Li Qiang emphasized the importance of opening up markets and resisting protectionism amid global uncertainties.
Mintz Group specializes in background checks and investigations into fraud and workplace misconduct. The firm operates with over 280 investigators across 12 offices in 11 countries. The recent developments highlight the ongoing tensions and challenges that foreign firms face in China.