September 26, 2022

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LIVE: China, India at loggerheads over money laundering

An investigation liveA Chinese-origin mobile company has encouraged the government China They warn that there will be a trade crisis between the two countries.

The Chinese embassy, ​​in a statement, pointed out that the Indian authorities are chilling the “trust and goodwill” of their institutions by carrying out these frequent inquiries.

What is happening between China and India?

China And India They have been facing political problems for some years Unarmed war on the border of the two countries in 2020. From there, the Indian government tightens standards for all Chinese content entering the country. Starting from the Apps page.

However, Chinese companies have started to have major problems in the cell phone industry, which dominates the local market.

The first company investigated Xiaomi, Accused Illegal remittances “under the guise of royalty payments”. The company defended itself against the allegations and pointed out that Indian authorities had threatened officials with violence and coercion. Xiaomi in the country to plead guilty.

This first case, however, has taken more notes of conflict with the present case live, Who is now? He is pointed out as a “money laundering” author.

For this reason, the agency’s compliance directorate, which fights financial crimes, raided the company’s offices as part of its investigation.

China responds

China He criticized Indian authorities for “frequent investigations” of local units of Chinese companies.

“Frequent investigations by the Indian side against Chinese companies not only disrupts the normal business operations of the companies, tarnishes the reputation of the companies, hinders the improvement of India’s business environment and chills India’s confidence and will.” Market companies are from other countries, including Chinese companies, to invest and operate in India,” said Wang Xiaojian, a spokesperson for the Counselor at the Chinese Embassy. India, In a written statement.

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Geogian said China The matter was closely monitored.

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