People have more disgusting towards Dragon than our arch-rival Pakistan. They welcomed Indian government decision of banning 59 Chinese Apps though they addicted to the apps like Helo, TikTok and others. Despite all the odds, China has continued to build trade links with India.
China central bank is slowly buying stakes in Indian companies. In mid-April, stock exchange disclosures revealed that the People’s Bank of China (PBoC) had a holding of 1% Indian mortgage banking biggie HDFC. The Chinese Central Bank got RBI’s permission to operate as an FPI in July 2018. That allows PBoC to invest in key sectors of India. Chinese investment in HDFC forced India to amend the FDI guidelines into the country. The addition was that any investment from an entity from a country that shares “a land border with India” will require government’s approval.
PBoC’s holding in HDFC is currently worth about 3,100 crore that comes to 1% of holding while in Piramal Enterprises around 137 crore which equals to 0.43%. PBoC also invested .032% in Ambuja Cements amount to 122 crore. Two recent reports on Chinese investments in India have warned that several funds and investment companies directly controlled or indirectly in major sector companies in Indian listed companies.
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