A payments company that aims to rival Stripe and was accused by a tech investor of being a “Chinese backdoor” is relocating some staff out of China as it plots an expansion in the US.
Airwallex, which was founded in Australia and has offices in Shanghai and Hong Kong, has been steadily moving employees who do not work in China-facing roles out of the country, according to two people familiar with the plan. One person estimated it could total more than 100 staff.
The relocations underscore how companies with significant Chinese operations or roots are coming under greater scrutiny as they try to expand globally amid intensifying US-China rivalry.