ZHENGZHOU, July 11 (Xinhua) -- Xiao Xing, a former deputy general manager of state-owned China Taiping Insurance Group Co., Ltd., stood trial for bribery at the Intermediate People's Court of Xinxiang in central China's Henan Province on Thursday.
According to prosecutors, Xiao took advantage of his various positions from 1998 to 2023 to assist individuals and organizations in matters concerning financial loans, business cooperation and employment opportunities, and accepted money and valuables worth over 81.48 million yuan (about 11.42 million U.S. dollars) in return.
At the trial, the prosecutors presented related evidence, while the defendant and his defense counsel examined the evidence. The two sides gave their respective accounts, according to a court statement.
In his final statement, Xiao pleaded guilty and expressed remorse.
The decision will be announced in due course. ■
