The Chinese government is distancing itself from a major Chinese-operated tuna fishing company which has admitted breaching quotas for the most vulnerable tuna species in the Pacific, after being heavily criticized by Greenpeace.
In a draft prospectus presented to the Hong Kong Stock Exchange, the China Tuna Industry Group (CTI) revealed China had exceeded the catch quotas for bigeye and yellowfin tuna for three of the last four years for which records are available.
The Dalian-based company claimed sanctions were ineffective and that, according to legal advice, it would not be penalized for its actions.
