China has expressed hope that India will investigate Vivo as per law and provide a "truly fair" and "non-discriminatory" business environment to Chinese firms.
"As I have stressed many times, the Chinese government has always asked Chinese companies to abide by laws and regulations when doing business overseas," Chinese Foreign Ministry spokesman Zhao Lijian said in Beijing, when asked about the Vivo raids in India. "We firmly support Chinese companies in safeguarding their lawful rights and interests."
"We hope the Indian authorities will abide by laws as they carry out the investigation and enforcement activities and provide a truly fair, just and non-discriminatory business environment for Chinese companies investing and operating in India."
In New Delhi, a Chinese Embassy spokesperson said that India's frequent investigations into Chinese firms not only disrupt their normal business and damage their goodwill but also impede the business environment in India. "The essence of China-India economic and trade cooperation is for mutual benefit and win-win results," Spokesman and Councellor Wang Xiaojian said in a statement.
Bilateral trade between India and China stood at more than $100 billion in 2021. That reflects the huge potential and broad prospect of economic and trade cooperation between the countries, he said.
On Tuesday, the Enforcement Directorate raided at least 44 places across India in a money-laundering investigation against Vivo and related firms. The searches were carried out under sections of the Prevention of Money Laundering Act, 2010, at multiple locations in New Delhi, Uttar Pradesh, Meghalaya and Maharashtra.
A Vivo India spokesperson said they're cooperating with authorities.
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