China Launches Crackdown on Foreign Consulting Firms Over Alleged Spying

China's national security agencies have confirmed uncovering espionage by local units of foreign consulting companies, as part of a nationwide sweep of corporate intelligence and due diligence firms. Police recently raided offices of Capvision across China, alleging the New York-based provider of expert consultations and research paid employees of state-owned companies to leak secrets. This comes after authorities raided U.S. due diligence firm Mintz Group's Beijing office and detained local staff in late March, and questioned employees at Bain & Co.'s office in Shanghai last month.