Jackdaws
BANNED
- Joined
- Jan 20, 2010
- Messages
- 13,114
- Reaction score
- -49
- Country
- Location
China says India risks scaring away investors with raids on its companies
India risks damaging its reputation among foreign investors with its "frequent investigations" into Chinese companies, Beijing said this week.
edition.cnn.com
India risks damaging its reputation among foreign investors with its "frequent investigations" into Chinese companies, Beijing said this week.
China's embassy in India said in a statement Thursday that probes by Indian authorities into Chinese companies were disrupting "normal business activities" and chilling "the confidence and willingness of market entities from other countries, including Chinese enterprises to invest and operate in India."
The criticism comes after India's Enforcement Directorate — the country's main financial investigation agency — raided major Chinese smartphone company Vivo over allegations of money-laundering earlier this week.
In a press release on Thursday, the Indian agency said it had carried out searches at 48 Vivo locations in the country, and seized 4.65 billion rupees ($60 million) from 119 bank accounts, including fixed deposits, cash and gold bars.
Oh, too bad.