china international image in tatters & sewer

I encourage everyone to read the 2 stories (links provided) 3 months apart to see how fishy this China / Hanlong saga is.

The positives out of this is China will have wrestle this very bad situation and quickly bring it to a good outcome. It's reputation and credibility is in the sewer both at a political, governmental level as well as in the global mining and resources industry.

Given the NDRC (as opposed to HanLong) approved the 45c transaction (already reneged once), it will stick to it IMO. Otherwise, China will be an international prariah in terms of any future mining M&A activities.

This is DEFINITELY not a simple story of Beijing nabbing gangster Liu and elbowing HanLong out of the picture at unbelievable timing. (GJ sitting at the mining conference looking nervously around to see the whereabouts of the guy to be seated next to him)..LOL !

China is still harbouring HanLong director Steven Hui Xiao
who still has not returned to Australia (after doing a runner) because he can't fly because of high blood pressure. If China is happy for him to come back to see his wife and kids, Steven Xiao would be on the first flight to Sydney from Shanghai.

Calvin Zhu (who pointed the finger at the highest echelon of Hanlong as guilty in the insider trading scam and is doing time (seemingly has played the fall guy).

http://www.smh.com.au/business/innocent-employee-seeks-apology-from-hanlong-20120312-1uwgg.html

http://www.smh.com.au/business/exhanlong-exec-pleads-guilty-to-insider-trading-20120731-23c0x.html