Former head of China CITIC Bank stands trial for accepting bribes

JINAN -- Sun Deshun, former president of China CITIC Bank Corporation Limited, stood trial on Tuesday at the Intermediate People's Court of Jinan City in east China's Shandong Province for accepting bribes.

Sun was accused of taking advantage of his various former positions to illegally assist others in matters such as gaining loan approval and credit lines from 2003 to 2019.

In return, Sun accepted money and gifts worth more than 979.5 million yuan (about 154.3 million U.S. dollars).

During the trial, prosecutors presented evidence that was, in turn, examined by the defendant and his lawyers. Each side gave its own complete account.

In his final statement, Sun pleaded guilty and expressed remorse.

The trial was attended by Sun's relatives, legislators, political advisors, the press and members of the public.

Sun's sentence will be announced at a later date.