China did business with Canada, from which Hu Shitai, a gifted scholar of Peking University, cheated hundreds of billions. What happened to him later?

Stern Hu was born in Tianjin, China, and later immigrated to Australia, where he graduated from the history department of Peking University. 1997 joined the Australian mining giant RioTintoGroup as the company's chief representative in China in China.

In 2009, Hu Shitai was detained on suspicion of stealing China's state secrets and commercial secrets. He was accused of obtaining business information of China iron and steel enterprises by bribing and stealing business secrets, and then manipulating the iron ore import market, resulting in losses of hundreds of billions of yuan for China enterprises. This incident has aroused widespread concern in China, and Hu Shitai is regarded as a threat to China's economic security.

On 20 10, Hu Shitai was tried in China, sentenced to fixed-term imprisonment of 10 year and fined RMB 1 10,000 yuan. During his sentence, Hu Shitai performed well and got a reduced sentence. On 20 18, Hu Shitai was released from prison and deported.

Hu Shitai's case reveals the influence of unfair competition means and trade secret disclosure in international commercial competition on national economic security. This has also caused the China government and enterprises to attach great importance to the protection of trade secrets and national security. After Hu Shitai's case, China strengthened the protection of trade secrets and the enforcement of anti-commercial bribery to prevent similar incidents from happening again.