New Delhi: As the Enforcement Directorate (ED) continued searches at the premises of Chinese companies in a money laundering case, Wang Xiaojian, counselor and spokesperson from the Chinese Embassy in India, said the frequent investigations by Indian authorities into Chinese enterprises “chill the confidence and willingness of market entities from other countries, including those from China to invest in India”.
Xiaojian said that the essence of China-India economic and trade cooperation is based on mutual benefit and win-win results.
“The Chinese government has always asked Chinese companies to comply with local laws and regulations in their overseas operations and will firmly support Chinese companies to maintain their legitimate rights and interests,” Zhao said in a statement.
“The Indian side should act in line with laws and regulations, and provide a fair and non-discriminatory business environment for Chinese firms,” he added.
As the ED raided 44 locations in 22 states, the directors of some of the companies associated with Vivo fled India. The enforcement agency has so far received information about money laundering worth Rs 10,000 crore during the raids, according to ED sources.
The Chinese embassy spokesperson said that the “frequent investigations by Indian authorities into Chinese enterprises not only disrupt normal business activities and damage the goodwill, but also impede the improvement of the business environment in India”.
Vivo earlier said that it is cooperating with the authorities to provide them with all required information.
