Guangzhou Intermediate People’s Court started a trial of Li Tongan, former president of Guangxin Shipbuilding & Heavy Industry, on corruption charges yesterday.
Li was charged for taking bribes worth RMB5.16m ($776,000) in total in several ship acquisition deals when he was general manager of Guangdong Machinery Import & Export Corporation as well as for some procurement deals during his time as president of Guangxin Shipbuilding.
Li turned himself into the authorities in June 2015 and handed in all illegally gained income.
The public procurator believed that Li could get a lighter punishment given his voluntary surrender. The court hasn’t made a final judgment yet.
Guangxin Shipbuilding is a subsidiary yard of state-run Guangdong Guangxin Holding Group and it mainly builds offshore vessels.
