Published 12:47 IST, April 20th 2020
China issues stung first response after India blocks its FDI under automatic route
After India amended its FDI policy to prevent the hostile takeover of stressed firms, Chinese Ambassador to India Sun Weidong issued his first response.
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After India amended its foreign direct investment policy to prevent the hostile takeover of stressed firms amid the COVID-19 pandemic via the automatic FDI route, China seemingly responding to India's move said that it has done nothing but act as a 'responsible country' and has proven its international cooperation.
Chinese Ambassador to India Sun Weidong in a series of tweets said that China had been the first to alert the world regarding the pandemic and that it had helped become the 'world's factory' by decreasing the strain on global medical supplies. He stated that at a time like this 'cooperation' was needed instead of 'scapegoating'.
State Councilor #WangYi: #China has acted as a responsible country thru int'l cooperation & won high recognition.Leaders of over 170 countries & 50 orgs offered solidarity, over 70 countries & orgs sent assistance. The friendship will be remembered. https://t.co/O9flm2Gzul (1/6)
— Sun Weidong (@China_Amb_India) April 18, 2020
Viruses respect no borders and epidemics do not distinguish between race. The only way to defeat them is through concerted efforts of all. This global public health crisis has driven home the urgency and importance of building a community with a shared future for mankind. (2/6)
— Sun Weidong (@China_Amb_India) April 18, 2020
#Chinese govt has acted in an open, transparent & responsible manner, actively engaged in int'l cooperation to jointly meet the common threat and challenge. We are resolved to protect the lives & health of the Chinese & other people across the world. (3/6)
— Sun Weidong (@China_Amb_India) April 18, 2020
"As the first country to alert the world about the virus & to grapple with a serious outbreak, China served as a crucial line of defence for the world. Fighting off the virus with strength, ingenuity & sacrifice, China boosted global confidence in an ultimate victory," tweeted Sun Weidong, the Chinese Ambassador to India quoting State Councilor and China's Finance Minister Wang Yi.
"China has managed to restore its economy and society step by step to normal. The early economic reopening of "the world's factory", has significantly eased the strained global medical supplies. It will also help bring the world economy back to normal at an early date," the ambassador added.
#China shouldered its responsibilities & provided strong support to other countries. China shared its experiences, sent teams of experts to front-line countries, mobilized manufacturers to produce & ship medical supplies to every corner of the globe. (4/6)
— Sun Weidong (@China_Amb_India) April 18, 2020
#China has spoken up with its actions. History will give its objective & impartial verdict. No one could discredit or distort these facts or truths. To defeat the virus, mankind needs to choose confidence over panic, unity over division, cooperation over scapegoating. (5/6)
— Sun Weidong (@China_Amb_India) April 18, 2020
To defeat #COVID19, we suggests: make a unified response; uphold multilateralism & improve global governance on public health; reinforce cooperation & build int'l consensus; better coordinate macro policies & counter the downward pressure on the world economy. (6/6)
— Sun Weidong (@China_Amb_India) April 18, 2020
India amends its FDI policy
In massive development, the Centre on Saturday, amended the Foreign Direct Investment (FDI) policy to ensure no hostile takeover of firms facing stress due to ongoing COVID-19 lockdown. According to the amendment, neighbouring countries - including China, Nepal, Bangladesh, Pakistan will require government approval for investing into Indian companies. Centre has also prohibited Pakistan from investing in Indian sectors of defence, space, atomic energy and sectors/activities prohibited for foreign investment. Apart from India, EU, US, Australia have checked Chinese FDI amid COVID-19 crisis. China's People's Development Bank had just last week picked up an over 1% stake in India's largest private lender HDFC bank.
13:27 IST, April 19th 2020