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Beijing has announced its support for embattled Huawei in its efforts to sue the U.S. Wang Yi, China’s Minister of Foreign Affairs, said Friday that China supports the company and its Chief Financial Officer Meng Wanzhou in “seeking legal redress to protect their own interests and refusing to be victimized like silent lambs.” Wang said that it would be obvious to 'any fair and unbiased person' that the recent U.S. Actions are 'by no means a purely judicial case, but rather a deliberate political case to bring them down.' 'China has and will continue to take all necessary measures to resolutely protect the legitimate and lawful interests of Chinese businesses and citizens,' the minister said, adding that it is a country’s “basic right” to develop its technology. 'People can tell right and wrong, and justice will have its day,” he said. Huawei announced Thursday that it would sue the U.S.

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Government over a law that bans executive government agencies from purchasing the company’s hardware. Read more of. An investment banker convicted of bribery new meaning to the concept of “hard sell.” The man, Liu Sijia, did his homework before landing a bond-underwriting deal by persuading a credit ratings agency into giving the bond issuing company a higher credit rating, while promising kickbacks to the issuer’s senior executives. Liu, an employee in the investment banking division of Great Wall Securities, bribed two senior executives of a local state-owned enterprise (SOE) in 2016 with 3 million yuan ($446,750), a court file released Monday. Liu was sentenced to five years for bribery and fined. In 2015, the state-owned Taizhou Traffic Industry Group in the East China city of Taizhou first planned to use Haitong Securities to underwrite a 2 billion yuan bond offering.

But then things began to change. At the request of Taizhou Traffic Industry Chairman Huang Jinrong, Liu persuaded China Chengxin International Credit Rating into raising the SOE’s credit rating to AA+. Huang changed his mind and decided to have the bond offering underwritten by Great Wall Securities, replacing Haitong. In 2016, Great Wall Securities earned an underwriting fee of 40 million yuan, double what Haitong would have gotten. After the bond’s issue, Liu gave Huang and Wu Jing, the company’s financial director, 3 million yuan.