Rio Tinto to further tap opportunities in nation's green transition

Rio Tinto, the world's largest iron ore producer, has had more tie-ups and joint ventures with Chinese partners last year than ever before in its history, its top executive said, amid further opening-up and industrial reform that have provided massive business opportunities for multinational corporations in the country.

"China is hugely important for Rio Tinto as this is the place where we have our biggest customers, our biggest shareholder and almost 60 percent of our revenue," said Jakob Stausholm, CEO of Rio Tinto, on the sidelines of the China Development Forum on Sunday in Beijing.

"The rapid development of solar and wind power, grid extension and electric vehicles in the country, of which China has been taking the world lead, gives more demand for products that Rio Tinto provides, not least copper, aluminum and battery materials. The green transition is a whole new business opportunity for us," he said.