China has criticized Indian authorities for “frequent investigations” of Chinese companies in the local sector, such moves “hindering the improvement of the business environment” in India and “confidence and willingness” in the investment and operation of other foreign companies. Cool down. ” The South Asian market, the Chinese embassy in India, said in a statement after attacking Vivo’s office earlier this week.
“Frequent research by the Indian side on Chinese companies not only disrupts the company’s normal business activities and undermines the goodwill of the company, but also hinders the improvement of India’s business environment and undermines the trust and motivation of market entities in other countries. Cool, including Chinese companies that invest in and do business in India, “said Wang Xiaojian, a spokesperson for the Chinese embassy of Indian counselors. Said in a written statement..
Earlier this week, the executive office of India’s money laundering prevention agency Raids operations and production sites of dozens of phone makers Vivo across multiple states.. In a statement to TechCrunch, Vivo said it was working with Indian authorities.
Xiaojian said China is closely tracking this issue. The executive office has not commented on the attack.
The case follows a similar investigation into another Chinese company, Xiaomi. ED Seized $ 725 million from Xiaomi India, The company accused of violating the country’s foreign exchange law. Xiaomi executives who argued against the accusation and legally challenged the ruling said, “Physical violenceReuters has previously reported on the threat under investigation.
Chinese smartphone makers dominate the Indian market, according to research firm Counterpoint. While Xiaomi maintained its position for a big event in India in the quarter ending March, Vivo was the fourth largest smartphone vendor in terms of the amount of mobile phones shipped, Counterpoint said.
The India Cellular and Electronics Association, a lobby group representing several tech giants, including Apple and Amazon, intervened in New Delhi in May to understand how loyalty payments work in the tech industry. Claimed to be in short supply. (The Indian Executive Office previously stated that Xiaomi has sent $ 725 million to three foreign-based entities “in the guise of royalties.”)
After a skirmish at the border, tensions between the two nuclear-armed neighbors increased in 2020. Since then, India has introduced some restrictions on Chinese companies (it does not specify China for orders).
In the last two years, New Delhi has Banned hundreds of Chinese apps such as TikTok, UC Browser, PUBG Mobile, Quote national security concerns.India too Revised foreign direct investment policy in 2020 Demands all neighboring countries that share boundaries to seek approval for future transactions in New Delhi. Previously, only Pakistan and Bangladesh were subject to this requirement.
Investment rules have significantly reduced the ability of Chinese investors to support Indian and start-up companies. Prior to the revision, Tencent and Alibaba were one of the most prolific supporters of Indian start-ups.
On Wednesday evening, Xiaojian called on Chinese companies to ensure that the world’s largest population always complies with foreign laws and regulations, and the Indian side “wants” to provide Chinese companies with a “fair, just and non-discriminatory business environment.” I have. “
“The essence of China-India economic and trade cooperation is to bring mutual benefits and mutually beneficial results. Bilateral trade volume between China and India will exceed US $ 100 billion in 2021 historical record. This reflects the great potential and broad outlook for economic and trade cooperation between the two countries. In China, the Indian side is observing and enforcing the law in compliance with laws and regulations, and Chinese companies are in India. We hope to effectively provide a fair, equitable and non-discriminatory business environment for investing in and doing business in India, “he added.