China's state-owned sector told to cut ties with U.S. consulting firms

China's action, which targets companies like McKinsey & Company and The Boston Consulting Group (BCG), stems from fears the firms are providing trade secrets to the U.S. government, the FT reported, citing unnamed sources close to senior Chinese leaders. Spokeswomen for McKinsey and Bain & Company did not return calls seeking comment. Spokeswomen for BCG and Strategy& (formerly Booz & Company) were not immediately able to comment.

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