Prosecutors from the US Justice Department indicted a Chinese state-owned company, along with several other conspirators, on Wednesday, for an espionage scheme aimed at stealing industrial secrets from chemical giant DuPont.
The indictment alleged that Pangang Group, a state-owned steel manufacturer in Sichuan province, had planned to steal secrets on how to manufacture titanium dioxide – a chemical used to whiten products from paint to toothpaste – from DuPont; and had enlisted the help of several of its subsidies along with a California businessman in order to do so.
According to the Wall Street Journal, the businessman Walter Liew, 54 years old, and his wife, Christina Liew, 49, were reportedly offered more than $20 million in contracts from companies in China for undertaking the task. The Liews apparently secured the secrets through former employees of DuPont – include one former DuPont engineer who demonstrated plans on how to design the chloride-route titanium dioxide.
Related: Chinese Officials Jailed For Leaking Economic Data
Related: China “Deeply Concerned” With US’s “Strong Tendency For Trade Protectionism”
Last month, DuPont reported earned nearly $2 billion in quarterly revenue for the unit that made the compound. Pangang apparently wanted to use the obtained information to create a rival 100,000-ton titanium dioxide plant at Chongqing, China.
”The theft of America’s trade secrets for the benefit of China and other nations poses a substantial and continuing threat to our economic and national security,” added US Assistant Attorney Lisa General Monaco, as reported by ABC News.
Related: Obama To Create Task Force That Monitor Chinese Trade Policies
Related: China’s Shady Accounting Practices and Bad Apples
Related: America’s China-Centric Blame Game Is Absurd: Stephen S. Roach
Although the Chinese embassy has thus far refused to comment on the case, the news comes just as Chinese Vice President Xi Jinping is scheduled to visit the United States next week on a range of economic, trade, regional and global issues.
In a US government report released last November, authorities cited China as "the world's most active and persistent perpetrators of economic espionage." It is unknown whether the White House is likely to pursue this issue with Xi during his visit.
Related News
Most Popular in China Economy
- The Chinese Economy: Market liberalization in the Chinese economy has
- China Trade, Imports and Exports: As part of China's continuing effort to become
- China Income, China National Income: According to an International Monetary Fund
- Economic Structure of China - Chinese Economic Profile: Structural changes in China’s economy gave
- China’s 2012 Outlook: The Bad News about the Reserve Cut: We’ve heard both sides of the debate of how
- China Luxury Market: Since inflation in China is perhaps the hottest
- US Charges Chinese State-Owned Firm For Corporate Espionage: Prosecutors from the US Justice Department ...
- IMF Warns China’s Growth May Halve If… : The International Monetary Fund warned yesterday ...
- How Will China’s Connectivity Revolution Transform The Nation? : Stephen Roach: The pace of China’s Internet revolution has ...
- China Prepares For the Largest Annual Human Migration: China is preparing itself, and its rail system, ...
- China Starts US Television Channel “To Propagate Information About China Overseas”: China’s State Council Information Centre is ...
- China Set To Build World’s Highest Airport In Tibet: China will spend more than 1.8 billion yuan ($280 ...
- Shanghai Forces Social Media Users To Register Real Identity: Shanghai has become the latest major Chinese city ...
- Chinese Province Increases Minimum Wage By 23%: The cost of living in China is rising, with ...
- Hot Money Flows Out Of China, Japan To Purchase Chinese Debt: For the second consecutive month, financial data ...
- China’s 2012 Outlook: The Bad News about the Reserve Cut: We’ve heard both sides of the debate of how ...
- FDI In China Falls For The First Time In 28 Months: Foreign direct investment into Chinashrunk by 9.8 ...
- China Slaps “Anti-Dumping And Anti-Subsidy” Duties On US-Made Cars: The Chinese government has unexpectedly imposed ...
- China Promises To “Actively Expand Imports”: China will further open its economy and ...
- China “Deeply Concerned” With US’s “Strong Tendency For Trade Protectionism”: The Chinese Commerce Ministry has criticised the ...
- China Sees Rapid Growth in Imports As Export Growth Slows: China’s import numbers grew sharply last ...
- Nearly Half of China’s Millionaires Want to Emigrate : Nearly half of China’s super-rich are ...
- Tax Dispute Sparks Mass Protest in China: Hundreds of small business owners in an eastern ...
- China Sees “Great Potential” in Economic Cooperation with North Korea: According to Chinese state media, the amount of ...
- Chinese Officials Jailed For Leaking Economic Data: Two former Chinese state officials have been sent ...
- China Has Just Stopped Exporting Oil (and the Sh*t is Hitting the Fan): Chinese oil giant Sinopec has stopped exporting ...
- First Chinese Trade Deficit - In Seven Years: China has posted its first quarterly trade deficit ...
- China Luxury Market: Since China's inflation is the hottest topic in ...
- China Industry Sectors: China’s industry sectors are growing at ...
- Inflation-Scared China Raises Interest Rates Slightly: China staged a third interest rate rise since ...
- China's Growing Interest in Psychoanalysis: There is growing interest in psychoanalysis in ...
- Guangdong / Shanghai Export Areas Face Worker Shortages, Higher Wages: Two of China’s main coastal export ...
- More Chinese Than Indian Students Now in US Higher Ed: Number of Chinese students studying in US surged ...
- China PM in India: Economic / "Atmospherics" Progress, Political Stalemate: Prime Minister Wen Jiabao of China visited India ...
- EU Seeks Rare Earths Alternatives to China: European Commission intends to pursue bilateral ...
- Love and Money in China: Recent spate of Chinese films, plays, tv shows ...
- Shrewd China Move To Fight Inflation, "Currency Wars": China’s central bank unexpectedly announced ...
- China Pushes Copper Prices Close To Record Highs: Copper is single most important metal for rapidly ...
- China Bi-Partisan Villain in US Election, Complicating Relations: In these angry political times, Democrats & ...
- Supercomputers: China Now # 1 There Too: Chinese scientific research center has built ...
- Japan Asks China To Resume "Rare Earth" Exports: Japanese trade minister urged China on Sunday to ...
- Global Leader in Patent Filings ??? Soon ALSO China : By 2011 China will likely pass US & Japan in ...
- China Growth Enmeshes South America in "Commodities Supplier" Trap: A core problem of South America is its inability ...
- China Halting Export of High-Tech-Vital Rare Earth Metals ???: Rare earth metals are absolutely vital to ...
- China's Big Push Into Hybrids, Electric Cars: China, determined to become world leader in green ...
- China Advertises Globally for "National Champion" CEOs: Chinese govt recently ran enormous help-wanted ad ...
- Downsized Chinese Bank Workers Protest Openly, Fruitlessly: Windfalls from IPO-ing of big Chinese banks has ...
- Yen-Yuan: China Currency "Valuation" Irrelevant for US Trade Deficit: US 40 years of bickering w Japan over value of yen ...
- Nurse Jackie Chan ??? Chinese Hospitals Seem Like US: Chinese hospitals are dangerous places to work. In ...
- China Will Attempt State-Run Search Engine: In apparent bid to extend control over Internet ...
- Internet TV Becoming Major Force in China Media Scene: While US Internet TV is in its infancy, it is ...
- Lebron James' "Decision" All About Renminbi - NBA Marketing in China: According to several intriguing reports, the ...
- One Child Policy Creates Less Compliant Chinese Workers: China's recent labor strife has driven home a ...
- China Cuts "Clean Tech Vital" Rare Earth Exports: China, world’s largest rare-earths producer, ...
- State Grid- Fortune Global 500 Corporations In 2005: State Grid ...
- COFCO- Fortune Global 500 Corporations In 2005: ......
- China National Petroleum- Fortune Global 500 Corporations In 2005: ......
- Agricultural bank Of China, Agricultural Bank China, Commercial Bank in China, Fortune Global 500 Corporations In 2005: ......
- China Construction Bank- Fortune Global 500 Corporations In 2005: ......
- China First Automotive Works- Fortune Global 500 Corporations In 2005: ......
- Shanghai Baosteel Group- Fortune Global 500 Corporations In 2005: Shanghai Baosteel ...
- China Telecommunications- Fortune Global 500 Corporations In 2005: ......
- China Life Insurance- Fortune Global 500 Corporations In 2005: ......
- China Sothern Power Grid- Fortune Global 500 Corporations In 2005: ......
- Sinopec- Fortune Global 500 Corporations In 2005: Sinopec ...
- Sinochem- Fortune Global 500 Corporations In 2005: Sinochem ...
- China Mobile Communications- Fortune Global 500 Corporations In 2005: ......
- Chinese Petroleum- Fortune Global 500 Corporations In 2005: ......
- Bank of China, Bank of China Ltd, Bank of China International, Bank of China Beijing, Fortune Global 500 Corporations In 2005: ......
- Aluminum Corp of China: Aluminum Corp of China Limited (CHINALCO) is a ...
- China Minsheng Bank: China Minsheng Banking Corp Ltd (CMBC) is a bank ...
- Shanghai Pudong Development Bank: ......
- China Forbes companies, Forbes Companies in China, Forbes Top 500 Company, Forbes Top Company, Forbes List, Forbes companies, Fo: Forbes Largest 2000 public companies of the world ...
- China June Slowdown - or Meltdown ???: China’s manufacturing growth slowed more ...
- China's "Soft Landing" Transition Plan Looks On Target: Two closely watched measures of China's ...
- China Likely To Become India' Largest Trading Partner: ......
- China Airport, Chinese Airports: Airports has become a way of life in ...
- China Inflation, Chinese Inflation: Inflation in China soared during the 1930s and ...
- China Electricity: ......
- China Budget: China’s central budget is prepared annually ...
- China Income, China National Income: According to an International Monetary Fund ...
- China Employment: According to the National Bureau of Statistics, ...
- China Jobs, Chinese Jobs: The jobs market in China has been surging since ...
- The Chinese Economy: Market liberalization in the Chinese economy has ...
- China Gas: As the Chinese government seeks to reduce ...
- Chinese Business Demography And Social Indicators: DEMOGRAPHY AND SOCIAL INDICATORS ......
- Economic Structure of China - Chinese Economic Profile: Structural changes in China’s economy gave ...
- China Population, Chinese Population: China’s population has always drawn the ...
- China Unemployment: According to the 2008 estimates by China’s ...
- China money, Chinese money: ......
- China Environment: China, the new superpower, is rapidly growing its ...
- China Investment: For people who are fluent in Mandarin, China ...
- China Trade, Imports and Exports: As part of China's continuing effort to become ...
- China Oil: ......
- China Population Growth: Think about vast population and China is the ...
- India China Economy, Indo-china trade relation: Among the most encouraging recent developments in ...
- China - Fast Facts: China is a Lower Middle Income economies coming ...
- China Foreign Direct Investment: China has principal attractions like low-cost ...
- China Economic Stimulus: On November 9, 2008 Chinese government ...
- China Economic Review: China has played a very critical role in ...
- China Economic Report: ......
- China Economic Growth: About China economic growth Rate of China ...
- China Economic Forecast: China has been making efforts for a more social ...
- China Economic Development: China economic growth has been acknowledged by ...
- China Budget Deficit: ......
- China Budget: ......
- China's Budget System: ......
- Military Budget Of China: ......
- Interview: Doing Business in China: While this interview with James McGregor of APCO ...
- China Now Challenging Hollywood Too: This mash-up of “Avatar,” ...
- Nationality of Yao Ming's Daughter Opens Window into Popular Chinese Thinking: While it may seem only tangentially related to the ...
- Chinese Supercomputer Ranked World’s Second-Fastest, Challenging US Dominance: A Chinese supercomputer has been ranked as the ...
- China: Massive New Economic Plan for Restive XinJiang / Uighur Region: The new leader of the restive region of Xinjiang ...
- NYTimes Seems To Agree w EW Feature Analysis Today ;-): The New York Times reported today a second Honda ...
- China UN-Blocking Porn Et Al ??? Why - and Why Now ???: Facebook gets blocked, and you can’t open a ...
- China Inflation Grew in April, But Strong Growth Continues: China's inflation accelerated in April, triggering ...
- Euro Debt Crisis Now Directly Affecting Chinese Exports: The plummeting euro makes Chinese companies less ...
- New Photos, Information re China's Increasingly "Blue Water" Navy: On April 29, we ran a piece about the expansion of ...
- Inequality Grows in Chinese Health Care System: IHT Special Report: China has an increasingly pyramidal health care ...
- After Niger Coup, China Confirmed As Africa's "Behind-the-Scenes" Power: Just a few months ago, China was widely derided ...
- China Bringing High-Speed Rail Expertise to California ???: The Chinese government has signed cooperation ...
- The Silk Road @ 300 KM / Hour: China's Global High Speed Rail Revolution: Ultimately, the Chinese plan to build a global ...
- Three Sensible Articles About China via Jim Fallows: In this brief piece for the Atlantic Monthly, of ...
Glad you liked it. Would you like to share?
Sharing this page …
Thanks! Close
Add New Comment
Showing 0 comments