New Delhi/Hong Kong CNN —An executive at Vivo, one of China’s top smartphone makers, has been arrested in India in connection with a money laundering probe, raising fears of a renewed crackdown on Chinese businesses in the country.
Guangwen Kuang, the head of administration at Vivo India, was taken into custody on Tuesday by India’s Enforcement Directorate (ED), his lawyer, Mudit Jain, told CNN.
The ED is the country’s main financial crimes investigation agency, responsible for probing money laundering and violations of foreign exchange laws.
Despite the regulatory crackdown, Vivo is still India’s second biggest smartphone brand, commanding 17% of the market in the second quarter, according to Counterpoint Research.
Authorities in India later banned Chinese apps and subjected deals with Chinese firms to greater scrutiny.
Persons:
Guangwen Kuang, Mudit Jain, Kuang, “, Xiaomi, ”
Organizations:
Hong Kong CNN, Vivo, Vivo India, India’s, CNN, Jain, Samsung, Research, Global Times
Locations:
New Delhi, Hong Kong, India, Vivo, China, China’s, Vedika