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China to Lift Travel Ban on Manus Founders

Financial Times Companies •
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Beijing plans to lift a travel ban on Manus founders as the AI‑agent company unwinds its $2bn acquisition by Meta. Chief executive and co‑founder Xiao Hong recently told staff he will return to Singapore, where the platform is based, according to insiders.

Xiao and Manus management, including chief scientist Ji Yichao, were barred from leaving China after being summoned to Beijing in March for an investigation into the start‑up’s sale to the US tech giant to determine whether investment rules were breached. Manus said it would soon resume independent operations to comply with regulatory requirements.

Final approval will come from the National Development and Reform Commission, which blocked the takeover in April. Regulators told Manus that operations would not be affected once the unwinding deal satisfies all requirements. The move reflects China’s nuanced control of its AI industry while allowing compliant companies to grow.

Most of Manus’s former investors—Tencent, Zhen Fund and HSG—will buy back the company for roughly the same $2bn valuation, while Benchmark will not participate, with Tencent becoming the largest shareholder. Manus plans to launch its next 2.0 version soon after the deal, and annual recurring revenue is expected to stay above $300mn.