Response to media query by Spokesperson of Chinese Embassy in India Counsellor Wang Xiaojian on the raid by the Directorate of Enforcement of India on vivo India
2022-07-06 22:57

Q: On July 5 ,the Directorate of Enforcement of India conducted raided 44 production and operation sites related to vivo and its dealers across the country on suspicion of money laundering. Do you have any comments?

A: On July 5, the Directorate of Enforcement (ED) raided vivo and its dealers at 44 production and operation sites across the country for allegedly violating the provisions of The Prevention of Money Laundering Act (PMLA). We are following the issue closely.

The Chinese government always asks Chinese enterprises to abide by laws and regulations overseas and firmly supports Chinese enterprises in safeguarding their legitimate rights and interests.

The frequent investigations by the Indian side into Chinese enterprises not only disrupt the enterprises’ normal business activities and damage the goodwill of the enterprises, but also impedes the improvement of business environment in India and chills the confidence and willingness of market entities from other countries, including Chinese enterprises to invest and operate in India.

The essence of China-India economic and trade cooperation is for mutual benefit and win-win results. The bilateral trade volume between China and India strikes a historical record of over 100 billion USD in 2021, which reflects the huge potential and broad prospect of economic and trade cooperation between our two countries. China wishes the Indian side to investigate and enforce the law in compliance with laws and regulations, and effectively provide an fair, just and non-discriminatory business environment for Chinese enterprises to invest and operate in India.

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