As a Chinese subsidiary of a western company, isn't there a requirement that Arm China is 51% owned by Chinese owners. If the Chinese government pushed the matter, I imagine those 51% would have to vote the way China wants, so the parent company's mere 49% ownership counts for nothing if China wants otherwise
Other commenter is wrong, ARM the UK company only owns 49% of the JV, other Chinese companies hold the rest. Supposedly ARM + at least one other shareholder were in agreement about firing the JV CEO, meeting the 50% threshold. But I think you are right, if China really had an issue with something, what could you do?
No, there is no such requirement. However, Softbank decided to sell a majority of its operations in China to Chinese investors in 2018.[1] It appears that fear of US sanctions motivated the sale.
