{"id":41044,"date":"2022-05-09T16:36:20","date_gmt":"2022-05-09T11:06:20","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=41044"},"modified":"2022-05-09T17:18:08","modified_gmt":"2022-05-09T11:48:08","slug":"china-india-xiaomi","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/china-india-xiaomi\/","title":{"rendered":"ED\u2019s probe on Xiaomi: China calls for fair &#038; non-discriminatory environment for its firms in India"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2065947846\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>China on Monday expressed hope that India will provide a &#8220;fair, just and non-discriminatory environment&#8221; to its companies as it reacted guardedly to reports of top executives of Chinese smartphone maker Xiaomi faced a probe by the Enforcement Directorate regarding its remittances abroad.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2824503072\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>\u201cChina is closely following the situation,\u201d Chinese Foreign Ministry spokesman Zhao Lijian told a media briefing here, responding to a question on top Xiaomi executives\u2019 allegation of \u201cphysical violence and coercion\u201d by the Enforcement Directorate (ED) in its investigations into its remittances.<\/p>\n<p>&#8220;We hope India will provide a fair, just, and non-discriminatory business environment for Chinese companies, conduct investigation, and law enforcement in accordance with laws and regulations so as to increase the confidence of global investors,\u201d Zhao said.<\/p>\n<p>He said the Chinese government always asks its companies to abide by laws and regulations while doing business overseas.<\/p><div class=\"trade-content_5\" id=\"trade-609170900\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u201cBut at the same time it firmly supports the Chinese companies in upholding their lawful rights and interests,\u201d he said.<\/p>\n<p>Xiaomi is accused of making illegal remittances abroad &#8220;in the guise of royalty&#8221; payments.<\/p>\n<p>The ED on Saturday rejected as &#8220;baseless&#8221; the allegations that the statements of Xiaomi India officials, the wholly-owned subsidiary of Chinese mobile manufacturing company Xiaomi, were recorded &#8220;under coercion&#8221;, saying the charges were an afterthought.<\/p>\n<p>The federal agency was responding to certain news reports that said Xiaomi alleged in a recent filing before the Karnataka High Court that its top executives were threatened with &#8220;physical violence and coercion&#8221; during their questioning by ED investigators in Bengaluru.<\/p>\n<p>The ED issued a statement saying it was &#8220;a professional agency with strong work ethics and there was no coercion or threat to the officers of the company at any point of time&#8221;.<\/p>\n<p>&#8220;The allegations that the statement of the officials of Xiaomi India was taken under coercion by ED is untrue and baseless,&#8221; the ED statement said.<\/p><div class=\"trade-content-10\" id=\"trade-2721811255\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The development comes in the backdrop of the ED passing an order on April 29 to seize Xiaomi India&#8217;s funds worth over Rs 5,551 crore over the alleged violation of the Indian foreign exchange law (Foreign Exchange Management Act).<\/p>\n<p>The Karnataka High Court earlier this week stayed this ED order.<\/p>\n<p>Xiaomi is a trader and distributor of mobile phones in India under the brand name MI. PTI KJV PY AKJ PY PY<\/p>\n<div class=\"trade-after-content\" id=\"trade-1924068613\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>China on Monday expressed hope that India will provide a &#8220;fair, just and non-discriminatory environment&#8221; to its companies as it reacted guardedly to reports of top executives of Chinese smartphone maker Xiaomi faced a probe by the Enforcement Directorate regarding its remittances abroad. \u201cChina is closely following the situation,\u201d Chinese Foreign Ministry spokesman Zhao Lijian [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":13467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31,1789],"tags":[],"class_list":["post-41044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ED\u2019s probe on Xiaomi: China calls for fair &amp; 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