Luo Bingsheng, executive vice president of CISA told Beijing Business Today that negotiations between China Iron & Steel Association (CISA) and Rio Tinto are still ongoing. But he declined to give any details of their progress.

“We want to reach a reasonable result. And we hope a win-win iron import pricing system can set up. We are against commercial speculation and monopoly.” Luo said.

As for the Rio Tinto spy case, Luo backed China's law enforcement department and said he considers the incident as a separate issue that has no influence on CISA’s work.

“Industrial and economic security should be strengthened to prevent the leaking of important information.” Luo said.

For more information, please consult the Chinese coverage here:

http://www.bbtnews.com.cn/news/channel/political74699.shtml

(China.org.cn by Li Xiaohua August 3, 2009)