McKinsey stays committed to China despite consultancy crackdown

CITY A.M. REPORTER

MCKINSEY has said it remains committed to the Chinese market despite a series of raids on fellow US consultancies.

Speaking to the Financial Times, global managing partner Bob Sternfels said it was segmenting IT systems to continue operating in the country, but wasn’t preparing to exit altogether.

“This is de-risk, not decoupling,” he said.

“Many of the world’s biggest challenges aren’t confined by borders –they too are global –and we’re going to continue to try and stand for that idea, and relentlessly pursue sustainable and inclusive growth,” Sternfels added.

Earlier this year, Chinese authorities raided the Beijing office of Mintz Group, where five staff were arrested, and Bain’s Shanghai office, as the state becomes more suspicious of such firms after broadening the country’s antiespionage laws.