China has rejected reports in French media that Chinese firms had been involved in the leaking of Renault (RNO.Euronext) trade secrets, Bloomberg reported. Reports suggested that Renault had discovered payments by China State Grid into Swiss bank accounts held by two executives. "The accusations are baseless and irresponsible, and the Chinese side cannot accept them," said Hong Lei, a spokesman for China’s foreign ministry. Renault has suspended three executives after falling victim to what its officials have called an "organized, international ring" that leaked information about electric car designs.
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