CCTV9英语新闻：Owner of seized Japanese ship pays $40 mln fine in legal dispute（在线收听）

A Japanese shipping company has paid about 40 million US dollars in fines to a Chinese firm, for a legal dispute that dates back to the 1980s.

Mitsui O.S.K. Lines states that it respects the Chinese court’s ruling and will resolve the issue as soon as possible. Reports say the decision was made after the Japanese company discussed the issue with the Japanese government. Mitsui was originally sued in 1988 by the Chinese firm over alleged delays in rent payments for two ships and economic losses dating back to the 1930s. The maritime court ruled in 2007 that it should compensate the Chinese firm 28.4 million US dollars for losses it incurred due to the lack of payment. 

The Shanghai Municipal Higher People’s Court gave a final verdict in 2010, upholding the 2007 ruling. Since April 19th, the Shanghai Maritime Court had placed a cargo ship belonging to the Japanese company under custody, after the company failed to comply with the court’s ruling. The Chinese Foreign Ministry says this was unrelated to wartime compensation, it shows China’s rule of law and it provides a fair, just and transparent environment for investors in China. 

"The case is an ordinary commercial contract dispute. China’s court deals with this according to law. It is not related to the compensation of the Japanese invasion into China. You mentioned whether it will become a precedent for the future. This is an individual case and we will deal with them according to specific conditions." said Qin Gang, Spokesman, Chinese Foreign Ministry.