EU report alleges rampant overfishing of tuna by China
SEAFOODNEWS.COM [Quartz] By Gwynn Guilford - October 31, 2014 -
A scrapped IPO offers a raw look at China’s rampant overfishing of tuna
China hauls in 12.5 times more fish that it admits to catching, according to a report by the EU parliament, and regularly exceeds international limits on fishing certain species. How can China be so casual about flouting its commitments? The drama surrounding a recent Hong Kong draft IPO filing and its hasty withdrawal—offers some clues, as flagged by the Guardian’s Shannon Service.
The company in question is China Tuna Industry Group, the biggest player in the Middle Kingdom’s huge tuna fleet. China Tuna, which currently has about $62 million in annual sales, was seeking to raise $100 million to expand its operations...
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