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Former vice president of ICBC pleads guilty to accepting bribes

Former vice president of ICBC pleads guilty to accepting bribes

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

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

Prosecutors presented evidence to prove the charges during the trial, adding that Zhang should be held criminally responsible for accepting bribes.

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

The Hangzhou Intermediate People’s Court said the decision would be announced at a later date. More than 30 people attended the hearing, including national MPs and political advisors.

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