Nod to 3 FDI proposals from Hong Kong, none from China so far SECTIONS Share Synopsis India had cleared three investment proposals from Hong Kong last month before the beginning of the first phase of de-escalation of the border tensions with China. India had cleared three investment proposals from Hong Kong last month, before the beginning of the first phase of de-escalation of the border tensions with China. The inter-ministerial committee (IMC) set up to review Chinese foreign investments cleared proposals by two Japanese companies -- Citizen Watches Company and Nippon Paint Holdings, routed through Hong Kong -- and a third by Hong Kong-based NRIs in Hyderabad-based Netplay Sports Pvt Ltd.