CHANGSHA, Nov. 9 (Xinhua) -- Tian Huiyu, former president of the China Merchants Bank, stood trial on Thursday for taking bribes, abusing power, trading on the basis of undisclosed information, insider trading and leaking inside information.

The case was heard by the Intermediate People's Court of Changde in central China's Hunan Province.

Tian, also former Party chief of the China Merchants Bank Co., Ltd., was accused of taking advantage of his posts at various financial institutions to seek benefits for other companies and individuals in matters such as loan approval, business contracting and job adjustment. In return, he illegally accepted money and valuables worth over 210 million yuan (about 29.26 million U.S. dollars), according to prosecutors.

Tian was also accused of abusing his power in the China Merchants Bank to intervene in the regular operations of its affiliated institutions, and taking part in securities trading by exploiting relevant undisclosed information or inside information, either for himself or for others.

During the trial, prosecutors presented their evidence, while the defendant and his defense counsel cross-examined the evidence.

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

Tian's sentence will be announced at a later date. Enditem

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