Former Head of CDB Leasing Denies Taking Bribes from China Southern Airlines

(Shenzhen) - The former head of a leasing company controlled by state lender China Development Bank (CDB) denied he took millions in bribes from China Southern Airlines Co. Ltd. during a trial on April 28, saying he was forced to making a false statement in exchange for a lenient sentence.

Wang Chong, former president of CDB Leasing Co. Ltd., in which CDB has an 89 percent stake, stood trial at the Shenzhen Intermediate People's Court in southern province of Guangdong on April 28.