China has responded amidst India’s plan to ban smartphone mobiles below Rs 12,000. Chinese Foreign Ministry spokesman Wang Wenbin said, the government has taken India’s move into account. Trade and economic cooperation between China and India are mutually beneficial. We sincerely urge you to fulfill our commitment to openness and cooperation.
“We urge Chinese companies to provide an open, fair, equitable and non-discriminatory investment and business environment,” the statement said. China will firmly support its companies in protecting their legitimate interests and rights.
Local manufacturers will get benefit:
If India bans cheap smartphones from China, then domestic companies will get the benefit of it. This will have a direct impact on companies like Xiaomi, Vivo and Oppo. The share of cheap mobile phones sold in India is one third. Of this, 80 percent is from Chinese companies.
Chinese companies are on the tax radar:
Three Chinese mobile phone makers are on the tax radar. Vivo, Oppo and Xiaomi are already facing investigation. Last week, Vivo Mobiles was accused of evasion of custom duty of Rs 2,217 crore. Earlier, the government had banned more than 300 Chinese apps.
The post China: After India’s action, China came to the rescue of mobile companies appeared first on Spotlight 7.
source https://spotlight7.com/world/china-after-indias-action-china-came-to-the-rescue-of-mobile-companies/
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