Li Zhiming, former party secretary and chairman of Guizhou Bank Co., Ltd., was sentenced to sixteen years and six months in the first instance.

According to Xinhua News Agency, on the 4th, the Intermediate People's Court of Liupanshui City, Guizhou Province, publicly sentenced Guizhou Bank Co., Ltd.'s former Party Secretary and Chairman of the Board of Directors, Li Zhiming, for bribery and illegal provision of loans. The defendant Li Zhiming was sentenced to fourteen years in prison for bribery and fined two million five hundred thousand yuan; sentenced to five years and six months in prison for illegal provision of loans and fined two hundred thousand yuan. The decision was made to implement a sentence of sixteen years and six months in prison, and a fine of two million seven hundred thousand yuan; the property obtained from bribery by the defendant Li Zhiming and the interest shall be confiscated in accordance with the law, and turned over to the national treasury by the detaining authority; any shortfall shall continue to be recovered.