监管动作背后更深层的逻辑在于政策导向的纠偏。 对外经济贸易大学国际经贸学院国际贸易系教授崔凡认为，这是一场在复杂地缘政治背景下特殊的商业 交易。 虽然收购标的位于中国境外，但关键问题是过程中是否存在中国法律法规禁止或限制出口的技术未经许 可出口，即在现行《技术进出口管理条例》下，中国监管者需要考察的主要不是Manus在新加坡或开曼 群岛的实体拥有的技术向美国实体转移的问题，而是在什么时候以什么方式，Manus在中国境内的实体 ——包括自然人和法人，将什么技术向境外转移的问题。 在技术出口管制方面，主要依据《中华人民共和国技术进出口管理条例》和不断更新的《中国禁止出口 限制出口技术目录》。该目录将技术分成三类：禁止出口、限制出口（需要许可证）和自由出口。 从法律层面来看，德恒律师事务所合伙人刘安邦对第一财经记者分析称，关键是要看Manus的核心AI技 术是否属于这个目录，特别是2025年7月修订版中关于"信息处理技术"的控制要点。技术出口方面风险 在于在中国研发的核心技术（比如AI智能体组件、算法），如果没有拿到出口许可证，是否通过人员 调动、代码共享或业务迁移等方式，实际上把限制或禁止类技术交给了境外的公司（ ...

Manus是由中国创始人肖弘和团队开发，产品在国内走红后，公司裁减了中国国内的一些员工，把核心 团队和技术迁往新加坡。这算不算和国内监管完全切割呢？ 21世纪经济报道记者章驰 这是近年少见的中国背景的AI公司被美国科技巨头整体收购案例。 1月8日，商务部回应了确实正在审查Meta20亿美元收购Manus的交易是否存在违反技术出口管制的情 况。 如果它的技术是在中国研发的，那么技术出口如有违反《中国禁止出口限制出口技术目录》规定，可能 面临罚款，甚至承担刑事责任。 那如果不在中国研发呢？ 这套做法可能无效。 中国《出口管制法》有"视同出口"的规定。例如，中国公民在任何地方将受中国管制的技术提供给外 国，都需遵守中国出口管制的相关规定。 还有数据出境问题，Manus虽然产品主打海外市场，但如果在中国境内有用户数据，或是训练数据使用 了中国境内数据，可能会面临的监管。 AI和智能体属于新兴技术，审查对整个行业都有示范作用。 ...

Core Viewpoint - The acquisition of Manus by Meta, valued at several billion dollars, is facing new uncertainties due to an evaluation investigation initiated by the Chinese Ministry of Commerce, which may affect the completion of the deal [4][60][61]. Group 1: Regulatory Concerns - The Ministry of Commerce announced it will assess the acquisition's compliance with laws related to export control, technology import and export, and foreign investment [5][9][60]. - The term "evaluation investigation" used by the Ministry suggests a potential for either a routine compliance check or a more in-depth investigation [10][11]. - The Ministry emphasized that companies must adhere to Chinese laws and regulations when engaging in foreign investments and technology exports [9]. Group 2: Export Control and Data Management - AI technology is categorized under "restricted export" in China's technology export list, requiring a license for transfer to foreign entities [18][19]. - Any transfer of AI technology developed in China, even if moved to a foreign company, may require prior approval from the Ministry of Commerce [24][25]. - Companies must undergo a "security assessment" before transferring user data collected in China to foreign servers or companies [28][29]. Group 3: Potential Outcomes of the Investigation - Scenario One: If the evaluation finds compliance with Chinese laws, the acquisition will proceed as planned, allowing Meta to gain Manus's team and technology [36]. - Scenario Two: If procedural issues are identified but deemed remediable, the transaction may be delayed while necessary licenses are obtained [38]. - Scenario Three: If significant violations of export controls are found, the transaction could be halted or require substantial adjustments [39]. Group 4: Manus Development Timeline - Manus was founded in 2022 in Beijing, initially focusing on AI browser plugins before transitioning to a general-purpose AI agent product [42][44]. - The company gained significant attention after its product surpassed competitors in performance benchmarks shortly after its launch in March 2025 [45][46]. - By December 2025, Manus achieved an annual revenue of $125 million and was valued at $2 billion while being acquired by Meta [53][56][57].

何亚东说，需要说明的是，企业从事对外投资、技术出口、数据出境、跨境并购等活动，须符合中国法 律法规，履行法定程序。 何亚东表示，商务部将会同相关部门对此项收购与出口管制、技术进出口、对外投资等相关法律法规的 一致性开展评估调查。 在8日举行的商务部例行新闻发布会上，在回答"有媒体报道中国商务部正在审查Meta以20亿美元收购人 工智能平台Manus的交易，以确定是否存在违反技术出口管制的情况。"这一问题时，商务部新闻发言 人何亚东表示，中国政府一贯支持企业依法依规开展互利共赢的跨国经营与国际技术合作。 ...

1月8日，商务部举行例行新闻发布会。会上，商务部新闻发言人何亚东回应有关审查Meta收购人工智能平台Manus一事。 1月9日，"Manus审查""Manus新加坡""Manus创始人"等多个话题登上微博热搜。 商务部：将依法开展一致性评估调查 在昨日的发布会上，何亚东表示，中国政府一贯支持企业依法依规开展互利共赢的跨国经营与国际技术合作。需要说明的是，企业从事对 外投资、技术出口、数据出境、跨境并购等活动，须符合中国法律法规，履行法定程序。商务部将会同相关部门对此项收购与出口管制、 技术进出口、对外投资等相关法律法规的一致性开展评估调查。 技术出口管制或是监管切入点之一 图源Manus官网 Manus首席执行官肖弘表示："携手Meta使我们能够在不改变Manus运作方式和决策机制的前提下，在更强大、更可持续的基础上发展。我 们对Meta与Manus合作的前景充满期待。我们将继续迭代产品，为用户提供超预期的服务——这是Manus从上线至今得以存在和发展的根 本原因。" 北京大成律师事务所高级合伙人邓志松、戴健民撰文指出，从现行中国法律体系看，技术出口管制可能是这桩交易最具现实操作性的监管 切入点之一。 收购金 ...

Core Viewpoint - The acquisition of Manus by Meta for several billion dollars raises compliance concerns, particularly regarding cross-border mergers and the regulatory landscape in China [1]. Group 1: Acquisition Details - Manus, an AI application company, was acquired by Meta, marking it as Meta's third-largest acquisition since its inception [1]. - The acquisition signifies a rare instance of a Chinese AI application being fully acquired by a foreign entity [1]. - Following the acquisition, Manus will cease operations in China and the founding team will continue under Meta as independent operators [4]. Group 2: Compliance and Regulatory Issues - The Ministry of Commerce of China is evaluating the acquisition for compliance with laws related to export control and foreign investment [1]. - The acquisition may have avoided antitrust scrutiny due to Manus's revenue being below the threshold for mandatory reporting [5]. - The operational structure of Manus was adjusted to mitigate regulatory risks, moving its headquarters to Singapore [5]. Group 3: Data Compliance Concerns - Manus's operations have primarily targeted overseas markets, but data compliance issues remain, especially regarding user data from China [7]. - The company has faced scrutiny regarding whether it has complied with data export regulations after relocating its headquarters [10]. - There are questions about how Manus has handled its data from Chinese users and whether it has met compliance requirements for data export [11]. Group 4: Export Control Risks - The core technology of Manus may fall under China's export control regulations, raising concerns about whether proper declarations were made during the relocation [13]. - The acquisition highlights the need for companies to be aware of export control laws, especially when their technology gains international traction [14]. - Companies must evaluate compliance not only based on the technology itself but also on the intended use and the recipient of the technology [15].

高额跨境收购引起商务部关注，Manus这次来到了合规讨论的中心。 2025年最后一天，AI应用Manus 的公司蝴蝶效应宣布，被美国科技巨头Meta以数十亿美元收购。这是Meta成立以来的第三大收购，也是近年少见的中国背 景 AI 应用被整体并购案例。 Manus 主打在电脑端调用多种工具的智能体能力，能完成分析股票、写简历、订行程等任务，由中国创始人肖弘及其团队开发。产品在国内走红后，公司主 体、员工和技术团队迁往新加坡。 此次跨境并购随之带来了更复杂的合规议题。1月8日，商务部在新闻发布会上回应了 Meta 收购 Manus 是否需要审查的问题。商务部明确表示，将会同相关 部门对此项收购与出口管制、技术进出口、对外投资等相关法律法规的一致性开展评估调查。 作为被不少人视为成功范例的 AI 初创公司，这一收购案的后续走向，将会成为一个具有参考意义的合规样本。 一位接近Manus的人士向21记者透露，当初公司在迁移至新加坡时，应该已经意识到了这并不意味着能跟国内监管完全切割。毕竟在当前的背景下，监管越 来越有技术穿透性，"规避"可能更难持续。 2025年3月，Manus邀请码在二手平台流行（图源：互联网） 反 ...

Core Viewpoint - The acquisition of Manus by Meta for several billion dollars raises compliance concerns, particularly regarding cross-border regulations and potential antitrust issues, making it a significant case for future reference in the industry [1]. Group 1: Acquisition Details - Manus, an AI application company, was acquired by Meta, marking Meta's third-largest acquisition since its inception and a rare instance of a Chinese AI application being fully acquired [1]. - The company, founded by Xiao Hong, has shifted its operations to Singapore after gaining popularity in China, indicating a strategic move to navigate regulatory challenges [1]. - Following the acquisition, Manus will cease its operations in China, and its founder will take on a role as Vice President at Meta, highlighting the importance of the founding team in the acquisition [3]. Group 2: Regulatory Concerns - The acquisition has prompted the Ministry of Commerce to evaluate its compliance with laws related to export controls, technology transfer, and foreign investment [1]. - There is a noted regulatory vacuum regarding antitrust and foreign acquisition reviews, as Manus's revenue of approximately $100 million (around 700 million RMB) does not meet the thresholds for mandatory reporting under Chinese antitrust laws [4][5]. - The shift of Manus's operational entity to Singapore may further complicate compliance with Chinese regulations, particularly concerning data and technology export controls [5]. Group 3: Data Compliance Issues - The acquisition raises questions about data compliance, especially if Manus has user data from China, which could complicate data export regulations [6]. - Manus's products have primarily targeted overseas markets, but the handling of any existing Chinese user data remains uncertain [6][7]. - Compliance with China's data export regulations may require re-evaluation following the acquisition, particularly if data is transferred to new third parties [10]. Group 4: Export Control Risks - The core technology of Manus may fall under China's export control regulations, necessitating careful assessment to avoid violations [12]. - The technology's classification and whether it requires prior approval for export is a critical concern, especially given the potential implications for AI companies operating internationally [13][14]. - Companies are advised to conduct thorough compliance evaluations regarding export controls, as overlooking these regulations can lead to significant legal repercussions [14].

1月8日，商务部举行例行新闻发布会。会上，商务部新闻发言人何亚东回应有关审查Meta收购人工智 能平台Manus一事。 何亚东表示，中国政府一贯支持企业依法依规开展互利共赢的跨国经营与国际技术合作。需要说明的 是，企业从事对外投资、技术出口、数据出境、跨境并购等活动，须符合中国法律法规，履行法定程 序。商务部将会同相关部门对此项收购与出口管制、技术进出口、对外投资等相关法律法规的一致性开 展评估调查。 Manus是一家在中国成立的AI科创公司，专注于构建通用型AI Agent，2025年6月将总部迁至新加坡。 根据2025年12月初统计的数据，上线至今，Manus已处理超过147万亿个token，并创建了超过8000万台 虚拟计算机。 2025年12月29日，Meta和Manus双双官宣了这则消息。Manus官方声明中特别提到，将继续通过app和网 站为用户提供产品和订阅服务，同时公司将继续在新加坡运营。 我国《技术进出口管理条例》(2020)规定，属于禁止出口的技术，不得出口。属于限制出口的技术，实 行许可证管理；未经许可，不得出口。此外，2025年7月15日版本的《禁止出口限制出口技术目录》的 限制类目录 ...

在1月8日举行的例行新闻发布会上，商务部新闻发言人何亚东在回应有关审查Meta收购人工智能平台 Manus的提问时表示，商务部将会同相关部门对此项收购与出口管制、技术进出口、对外投资等相关法 律法规的一致性开展评估调查。 何亚东表示，中国政府一贯支持企业依法依规开展互利共赢的跨国经营与国际技术合作。需要说明的 是，企业从事对外投资、技术出口、数据出境、跨境并购等活动，须符合中国法律法规，履行法定程 序。 据2025年12月被披露的信息，Meta以数十亿美元收购开发AI应用Manus的公司蝴蝶效应。这是 Meta成 立以来第三大收购，花费仅次于 WhatsApp 和 Scale AI。收购完成后，蝴蝶效应公司将保持独立运作， 创始人肖弘出任 Meta 副总裁。 这起交易公开后，受到市场关注，并引发一个受到关切的问题：Manus虽然变更了注册地，但其核心技 术是否在中国境内完成研发？其通过人员转移实现技术转移的行为，是否构成了未经许可的技术出口？ 随后，对外经贸大学教授崔凡撰文表示，正是在美国对华投资限制法律法规的推动之下，Manus一步一 步从公司架构和业务上剥离中国因素，并且进行了这次与Meta的收购交易。与 ...