Chinese financial data providers have stopped providing key corporate information to overseas clients, underscoring the growing difficulty foreign firms face when trying to obtain information that Beijing might deem sensitive.
Wind Information Co (萬得資訊) has in the past few months stopped allowing customers using its platform outside mainland China from accessing its corporate registry database, multiple people familiar with the matter said.
The change is due to regulatory requirements, and other parts of its service are continuing as normal, they said, declining to be identified because the matter is sensitive.
Wind collects data on more than 200 million enterprises and 270 million legal representatives and executives, its Web site says.
It has information about company shareholders and affiliates, fundraising and investing activities, legal disputes and operation risks.
Registry databases at Qichacha (企查查) and TianYanCha (天眼查) — companies that provide similar services — have also been inaccessible for some time to users outside mainland China, several other people said.
More than 10 overseas users of Wind contacted by Bloomberg said they could still access other data from Wind apart from the corporate registry database and did not have problems renewing subscriptions to the service.
The Wall Street Journal over the weekend reported that some unidentified foreign firms, including think tanks and research firms, were unable to renew subscriptions to Wind over what the company described as “compliance” issues.
The restriction highlights the more difficult environment facing investors operating in China, despite Beijing’s push to improve ties globally. US consultancy firms are under the spotlight in particular, with authorities in recent weeks targeting the China offices of Bain & Co, Mintz Group and Capvision, media reports said.
The government last month passed a new counterespionage law that expanded the list of activities that could be considered spying, intensifying the risks for foreign firms.
The increasing pressure on foreign firms operating in China appears to run counter to Beijing’s efforts to improve diplomatic ties in the wake of the country’s reopening.
Chinese Premier Li Qiang (李強) in March vowed to establish a “broad space” for international companies to develop there. China has welcomed a host of leaders and business delegations, including from Germany and France.
Last month, China’s Politburo urged greater efforts at boosting foreign investment.
Global investors have turned more cautious on the country, despite improving economic fundamentals. The MSCI China Index is down about 17 percent from its January peak, while MSCI Inc’s global index is little changed over the same period.
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