China Releases Detained Mintz Employees After Two-Year Ordeal

China has released Mintz employees detained since a March 2023 raid in Beijing, ending a crackdown on consultancy firms. The raid marked a significant regulatory action that affected investor sentiment. The Mintz Group expressed gratitude as the affected employees reunite with their families.

In a significant turn of events, China's authorities have released employees of the Mintz Group who had been detained for over two years following a March 2023 raid on their Beijing office. The raid on the U.S.-based due diligence firm signaled the start of a wider crackdown on consultancy operations in China.

The initial detention involved five local staff members from Mintz and expanded to affect others, including offices of Bain & Company and Capvision Partners. This sweeping move unsettled foreign business communities and hurt investor confidence in China's economic landscape, marking a challenging period for international consultancy firms.

A spokesperson for Mintz expressed gratitude towards the Chinese authorities for allowing former employees to reunite with their families. Reports from May 2023 suggested that Mintz was involved in investigating the use of forced labor in supply chains connected to China's Xinjiang region. Despite the setbacks, Mintz continues to operate globally with 12 offices and a team of over 280 investigators.

(With inputs from agencies.)