Former Kweichow Moutai chairman pleads guilty of taking bribes

Yuan Renguo, former chairman of Kweichow Moutai, on Friday pleaded guilty in a court in Guiyang, Guizhou province, to accepting bribes.

He expressed remorse in his final statement after prosecutors presented evidence and Yuan's attorney made a statement of defense, according to a court statement.

Yuan, 62, had been charged with accepting a significant number of bribes either in cash or other properties from 1994-2018.

He took advantage of his position to gain benefit for those who bribed him, including businesses and individuals, the release said, citing prosecutors.

The detailed number and amount of bribes was not revealed. A verdict will be handed down at a later date, according to the court.

About 100 people attended the trial, including Yuan's relatives, local legislators and political advisers, as well as journalists.

The disgraced chairman was born in Renhuai, Guizhou, where Kweichow Moutai is based.

He joined the company in 1975 and became deputy manager in 1990.

Yuan from 1990-2018 mainly served as deputy manager and manager of Kweichow Moutai, before becoming vice-chairman and then chairman of the company.

He was replaced by Li Baofang as chairman in May 2018. One year later, he was dismissed as a senior political adviser.