Former Chinese bank official stands trial for bribery

WUHAN -- Fan Yifei, a former vice governor of the People's Bank of China, was tried on Thursday at a court in Huanggang, Central China's Hubei province, on charges of taking bribes worth over 386 million yuan (about $54.35 million).

According to the prosecutors, Fan took advantage of his various positions, including vice governor of the central bank, vice president of China Investment Corporation, and vice president of China Construction Bank, to benefit organizations and individuals regarding loans, financing, project contracting, and job transfer between 1993 and 2022.

The prosecutors, the defendant, and his lawyers cross-examined the evidence and gave their respective accounts, according to a court statement.

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

The trial was attended by more than 40 people, including lawmakers, political advisors, and members of the public.

The verdict will be announced in due course.