Chinese regulators plan to restrict technology firms including some of the country’s highest-profile AI pioneers from accepting US capital without government approval, part of Beijing’s broader response to Meta Platforms Inc.’s controversial acquisition of startup Manus. Agencies including the National Development and Reform Commission have told several private firms in recent weeks they should reject capital of US origin in funding rounds unless explicitly approved, according to people familiar with the matter. Moonshot AI, which is considering an initial public offering, was among those that got the guidance from the powerful state planner, according to a person familiar with the matter. Fellow Chinese startup StepFun received similar instructions, another person said, asking to remain anonymous to discuss a non-public matter.

Full report : In recent weeks, China told tech companies, like ByteDance and Moonshot AI, to reject US capital without state approval, after Meta’s Manus acquisition.