Tech Insider: India Seizes $725 Million of Xiaomi Assets, Alibaba Shares Plunge on Mistaken Identity
Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.
India seizes $725 million of Xiaomi assets
India’s anti-money laundering agency, the Directorate of Enforcement, said on Friday that it had sized 55.51 billion rupees ($725 million) from the Indian subsidiary of Chinese smartphone giant Xiaomi Corp. for breaching the country’s Foreign Exchange Management Act.
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