382 applications in China, only 80 approved

India's "Economic Times" reported on the 6th that since the comprehensive tightening of commercial investment from neighboring countries in 2020, the Indian government has received a total of 382 investment applications from Chinese entities. As of June 29 this year Approval, but it is unclear how many other 300 projects have been rejected.

In April 2020, the Industrial and Internal Trade Promotion Bureau under the Ministry of Commerce and Industry of India amended foreign direct investment rules, requiring investment in India, which are required to borders all local neighbor countries that borders the country, must be approved by the government in advance. At that time, the Indian government claimed that this move was to prevent overseas enterprises "speculative mergers and acquisitions" on Indian enterprises. Many media believed that this was obviously targeted at China. After the relevant measures came into effect, the Indian government had not approved such investment projects until mid -2021.

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The Economic Times said that the Indian government still maintains a highly "prudent" attitude of "one thing, one discussion" on direct investment abroad, and pays special attention to the background investigation of Chinese investors, so the approval is slow. According to people familiar with the industry, in the currently approved investment applications, the proportion of Chinese enterprises claiming is relatively low, which will not lead to changes in control.

In addition to investment, the Indian media previously reported that the Indian authorities are increasing their review of Chinese enterprises in India. According to a report from New Delhi, India, the Indian Law Enforcement Bureau surprised the Chinese mobile phone manufacturer Vivo and many production and operation places on the same day.

Chinese Foreign Ministry spokesman Zhao Lijian said on the 6th that China is paying close attention to the matter. He emphasized that the Chinese government has always asked Chinese enterprises to operate overseas legally and compliance, while firmly supporting Chinese enterprises to safeguard its legitimate rights and interests. We hope that the Indian party will investigate and enforce the law in accordance with the law and effectively provide a fair, fair, and non -discriminated business environment for Chinese enterprises in India's investment and operation.

Global Times/Liu Haoran

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