A poster hanging in the main office of artificial intelligence (AI) firm Manus in Beijing before it relocated to Singapore reportedly said, “Go big or die.” Its ethos perfectly matched that of Meta founder Mark Zuckerberg’s famous motto: “Move fast and break things.” In December, when it was announced that the social media giant had bought the Chinese start-up for US$2 billion, many industry insiders embraced the deal despite a bitter tech war between China and the United States.

It was not to be. The aggressive ethos that suits Silicon Valley may not sit well in China after all.

Mainland regulators have vetoed the deal and demanded both sides unwind it. As China makes rapid advances in AI, robotics and a host of other tech fields, policymakers must protect their intellectual property. After all, most pioneering technologies almost all received government subsidies or support in one form or another.

The US has long imposed curbs on chip exports and tech transfers, not only within its own territories but through some allied countries. It can hardly complain as Beijing has tech to protect too.

In relocating to Singapore, Manus executives might have thought they could escape China’s regulatory scrutiny. Some industry insiders have even taken to calling it the “Manus model”, as a way for Chinese start-ups to attract foreign capital. Others have more unkindly called it “Singapore washing”, something Lion City officials have not taken kindly to.

With the sale blocked, it has been claimed in some quarters that the Manus model is dead. That may be premature. Beijing has made it clear, through public statements and media editorials, that the nation is open for international business and investment, but sudden takeovers in strategic fields may face further official scrutiny.