Former BOC chairman pleads guilty to graft

Liu Liange, former Party chief and chairman of Bank of China, pleaded guilty to accepting bribes totaling 121 million yuan ($16.7 million) and illegally issuing loans amounting to 3.32 billion yuan at a trial at Jinan Intermediate People's Court, in Shandong province, on Wednesday.

Liu confessed to his crimes and delivered a final statement in court. He will be sentenced later.

He served at Export-Import Bank of China from March 2007 until June 2018 and then began working at Bank of China. He became chairman of Bank of China in June 2019 and continued in that role until March 2023, when he was placed under investigation.