China on Wednesday expressed hope that India would conduct an ongoing inspection of Chinese mobile manufacturer Vivo in accordance with the law and regulations and provide a “truly fair” and “non-discriminatory” business environment for Chinese companies. Asked about the ongoing raids on Vivo’s offices in various parts of India, Chinese Foreign Ministry spokesman Zhao Lijian told a news conference here that the Chinese side was closely monitoring the situation.
“I have often stressed that the Chinese government has always asked Chinese companies to follow laws and regulations when doing business abroad,” Zhao said. “In the meantime, we strongly support Chinese companies in safeguarding their legal rights and interests,” he said.
“We hope that the Indian authorities will abide by the law as they carry out investigations and enforcement activities and provide a truly fair, equitable and non-discriminatory business environment for Chinese companies investing and operating in India,” the spokesperson said. In New Delhi, a spokesperson of the Chinese embassy said that repeated investigations by Indian authorities into Chinese industries not only disrupted their normal business activities and harmed their goodwill but also disrupted the business environment in India and affected the confidence of other companies in the market. Many countries, including Chinese companies, are investing in India.
“The essence of Sino-Indian economic and trade cooperation is for mutual benefit and win-win results,” spokesman and counselor Wang Xiaojian said in a statement. With bilateral trade between China and India exceeding USD 100 billion in 2021, it shows the enormous potential and broad potential for economic and trade cooperation between the two countries, he added.
The Enforcement Directorate (ED) on Tuesday raided at least 44 locations across India in a money laundering probe against Chinese smartphone maker Vivo and related companies. The crackdown was carried out under sections of the Prevention of Money Laundering Act (PMLA) in several states, including Delhi, Uttar Pradesh, Meghalaya and Maharashtra.
A Vivo India spokesperson said they were cooperating with authorities. The move is seen as part of the central government’s move to tighten investigations into Chinese institutions and crack down on companies and their affiliated Indian activists involved in serious financial crimes such as money laundering and tax evasion while operating in India.
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