BR100 Increased By (0.01%)
BR30 Increased By (0.53%)
KSE100 Increased By (0.28%)
KSE30 Increased By (0.29%)
AGHA 6.35 Increased By ▲ 0.03 (0.47%)
BECO 4.39 Increased By ▲ 0.12 (2.81%)
BML 62.50 Increased By ▲ 0.05 (0.08%)
BOP 31.47 Increased By ▲ 0.24 (0.77%)
CNERGY 11.70 Increased By ▲ 0.11 (0.95%)
CSIL 5.92 Increased By ▲ 0.20 (3.5%)
FCCL 61.60 Increased By ▲ 0.06 (0.1%)
FFL 14.79 Decreased By ▼ -0.23 (-1.53%)
FNEL 1.23 No Change ▼ 0.00 (0%)
KEL 6.33 Increased By ▲ 0.07 (1.12%)
KOSM 5.90 Increased By ▲ 0.34 (6.12%)
LOTCHEM 24.79 Increased By ▲ 0.11 (0.45%)
MLCF 103.93 Decreased By ▼ -0.15 (-0.14%)
NBP 173.05 Decreased By ▼ -2.23 (-1.27%)
NCPL 51.85 Decreased By ▼ -0.92 (-1.74%)
NPL 54.19 Increased By ▲ 0.07 (0.13%)
OGDC 315.50 Increased By ▲ 2.11 (0.67%)
PACE 9.26 Increased By ▲ 0.06 (0.65%)
PAEL 35.51 Decreased By ▼ -0.29 (-0.81%)
PIBTL 13.65 Increased By ▲ 0.18 (1.34%)
PPL 226.60 Increased By ▲ 4.79 (2.16%)
PRL 80.30 Increased By ▲ 1.22 (1.54%)
PTC 46.89 Increased By ▲ 0.04 (0.09%)
SSGC 23.90 Increased By ▲ 0.03 (0.13%)
TBL 9.30 Decreased By ▼ -0.01 (-0.11%)
TELE 7.65 Increased By ▲ 0.26 (3.52%)
TPL 24.51 Decreased By ▼ -0.60 (-2.39%)
TPLP 13.04 Increased By ▲ 0.53 (4.24%)
TREET 26.05 Decreased By ▼ -0.20 (-0.76%)
TRG 53.38 Decreased By ▼ -0.06 (-0.11%)
World Print edition: 2019-11-23

US charges Chinese national with industrial espionage

A Chinese national and former Monsanto employee has been charged with industrial espionage and stealing trade secrets, US officials said. Haitao Xiang was arrested in June 2017 at an airport with a one-way ticket to China and in possession of software dev
Published Updated

A Chinese national and former Monsanto employee has been charged with industrial espionage and stealing trade secrets, US officials said. Haitao Xiang was arrested in June 2017 at an airport with a one-way ticket to China and in possession of software developed by the American agribusiness giant to help farmers improve crop yields, the Department of Justice said in a Thursday statement.

The 42-year-old had worked at Monsanto and its subsidiary The Climate Corporation for nearly 10 years. The indictment alleges another instance of the Chinese government encouraging "employees to steal intellectual property from their US employers", Assistant Attorney General John Demers said.

Chinese foreign ministry spokesman Geng Shuang said Washington was trying to use the case to back its accusations that China steals technology from US companies. "We resolutely oppose the US side's attempts to use the case, which we regard as an ordinary, isolated incident, to hype up claims of China's organized and systematic attempts to steal intellectual property from the US," Geng said at a regular briefing Friday.

Xiang faces up to 15 years in jail and a $5 million fine for each of the three counts of espionage against him, along with hefty jail terms and fines for three counts of theft of trade secrets.

Copyright Agence France-Presse, 2019

Comments

Comments are closed for this article.