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Former SOE executive stands trial for corruption

Xinhua, November 23, 2016 Adjust font size:

The graft trial of Wang Shuaiting, former executive of China Travel Service (Holdings) Hong Kong Ltd., began Wednesday in Shenzhen, Guangdong Province.

Wang stands accused of accepting bribes and embezzling public funds.

The prosecution allege that Wang took advantage of his high-profile management positions at China Resources Power Holdings Co., Ltd (CR Power) during the 2003-2013 period to give certain organizations and individuals a hand up in investment, personnel appointment and promotion.

Wang was indicted to have accepted bribes worth over 40 million yuan (5.8 million U.S. dollars).

During the 2006-2011 period, Wang allegedly embezzled funds worth over 7 million yuan, according to the indictment.

Wang pleaded guilty.

The ruling will be announced at a later date. Endit