e-magazine
The Hot Zone
China's newly announced air defense identification zone over the East China Sea aims to shore up national security
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Weekly Watch
Expert's View
World
Nation
Business
Finance
Market Watch
Legal-Ease
North American Report
Forum
Government Documents
Expat's Eye
Health
Science/Technology
Lifestyle
Books
Movies
Backgrounders
Special
Photo Gallery
Blogs
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Web-magazine
Reader's Letters
Make Beijing Review your homepage
Hot Links

cheap eyeglasses
Market Avenue
eBeijing

ECONOMY
Weekly Watch> WEEKLY WATCH NO. 13, 2010> ECONOMY
UPDATED: March 26, 2010 NO. 13 APRIL 1, 2010
Bribery Scandal Trial
Share

Stern Hu, Rio Tinto's leading iron ore salesman in China, admitted taking bribes in a partly open hearing held March 22-24 in Shanghai.

The guilty pleas may be an embarrassment for Rio, which has been saying its employees are innocent and is again involved in tough iron ore price negotiations with China.

Rio Chief Executive Tom Albanese said in Beijing that he did not want to jeopardize business ties with China.

"This issue is obviously of great concern to us," Albanese said. "I can only say we respectfully await the outcome of the Chinese legal process."

"We remain committed to strengthening our relationship with China, not just because you our biggest customer, but because we see long-term business advantages for both of us," Albanese said.

The four employees from Rio's iron ore team, including Hu, were detained last July when Rio was acting as lead negotiator for global iron ore suppliers in price talks with Chinese steel mills. Hu was Rio Tinto's senior executive in China in charge of iron ore.

The four were also accused of seeking information about Chinese mines and mills.



 
Top Story
-Protecting Ocean Rights
-Partners in Defense
-Fighting HIV+'s Stigma
-HIV: Privacy VS. Protection
-Setting the Tone
Most Popular
 
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved