Former vice-president of ICBC pleads guilty to bribe-taking

Zhang Hongli, former vice-president of the Industrial and Commercial Bank of China, pleaded guilty to taking bribes at a trial in Hangzhou, Zhejiang province, on Thursday.

According to an indictment, the Hangzhou prosecutors said that Zhang, from 2011 to 2022, took advantage of his positions in the bank to seek profits for some departments and individuals in various matters such as loan financing and job arrangement and then accepted money and gifts worth more than 177 million yuan ($24.44 million) in return by himself or through others.

The prosecutors provided evidence to prove the charges during the trial, adding that Zhang should be held criminal liable for bribe-taking.

Zhang and his lawyers shared opinions on the evidence, and Zhang confessed to the crime in his final statement.

The Hangzhou Intermediate People's Court said that the verdict will be announced at a later date. More than 30 people, including national lawmakers and political advisers, attended the case hearing.

Zhang, 59, a native of Heilongjiang province, was placed under disciplinary and supervisory investigation in November 2023, and was expelled from the Communist Party of China in May. Three months later, he was indicted on suspicion of taking bribes in Hangzhou.