The company says it is “thank” to Chinese authorities for releasing local staff after being detained for two years.
China has released five staff members from due diligence firm Mintz Group after nearly two years of detention, the US-based company said.
Chinese authorities detained five local staff in March 2023, marking the launch of a series of attacks on foreign consulting companies and due diligence companies, including Bain & Company and Capvision Partners.
China’s National Statistics Bureau announced later that the New York-based Mintz Group had been fined $1.5 million for undertaking a “foreign-related statistical survey” without the necessary approval.
“We understand that all Chinese citizens of Mintz Group, who were detained, have now been released,” a Mintz Group spokesman said in a statement provided to multiple media outlets on Tuesday.
“We are grateful to the Chinese authorities for our former colleagues to be able to stay home with their family.”
The release of employees follows the conclusion of the China Development Forum, which has long served as a platform for Beijing to promote the country to foreign investors.
This year’s edition of the forum was concluded on Monday with dozens of top business leaders including Apple’s Tim Cook, Pfizer’s Albert Brula and Saudi Aramco’s Amin Nasser.
At a two-day gathering on Sunday, Chinese Prime Minister Li Qiang pledged to expand market access for foreign investors, urging businesses to resist the trend of protectionism.
“In today’s increasingly fragmented world of instability and uncertainty, it is more necessary for countries to open up their markets and businesses to resist risks and challenges,” Li said.
Mintz Group, which specializes in background checking and investigating fraud and workplace fraud, employs more than 280 investigators in 12 offices in 11 countries, according to its website.