Former VP of China Development Bank stands trial for bribe-taking

Zhou Qingyu, a former vice president of China Development Bank, stood trial on bribery-related charges on Friday, at a court in Changchun, Jilin Province.

According to the indictment, between 2013 and 2023, Zhou took advantage of his various positions at the bank to provide assistance to others in matters such as loan financing, project contracting, business operations, and personnel arrangements. In return, Zhou accepted money and valuables worth over 67.43 million yuan (US$9.5 million).

Also, after leaving relevant posts, he was found to have abused the influence he gained from his previous posts to seek unfair benefits for others, accepting money and gifts worth about 1 million yuan in return, the prosecutors said.

During the trial, prosecutors, the defendant and his defense counsel cross-examined the evidence and gave their respective accounts.

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

A verdict will be announced in due course.