Today (Month and Day), the Intermediate People's Court of Qingdao City, Shandong Province, held a public first-instance trial for the case of Luo Yulin, a former vice-ministerial-level cadre of the State-owned Assets Supervision and Administration Commission of the State Council, on charges of bribery and insider trading.

The Qingdao Municipal People's Procuratorate has filed an indictment alleging that from year to year, the defendant Luo Yulin, while serving as the Director of the Qinghai Provincial Bureau of State-owned Assets Management, Secretary and Director of the Party Committee of the former Qinghai Provincial Economic and Trade Commission, Secretary and Director of the Party Committee of the former Qinghai Provincial Economic Commission, Member of the Party Leadership Group and Vice Governor of the Qinghai Provincial People's Government, Member of the Standing Committee of the Qinghai Provincial Party Committee, Deputy Secretary of the Party Leadership Group of the Qinghai Provincial People's Government, Chairman of the Supervisory Board of Key State-owned Large Enterprises under the State Council, and Deputy Minister-level cadre of the State-owned Assets Supervision and Administration Commission of the State Council, took advantage of his positions and the convenience conditions formed by his authority and status to provide assistance to relevant units and individuals in matters such as business operations, project tendering, and job adjustments, illegally receiving a total of more than RMB . billion in property from others.

From year to year, Luo Yulin, as an insider with knowledge of material information, explicitly instructed others to engage in related trading activities before the information, which had a significant impact on the price of securities, was made public, resulting in particularly severe circumstances. The procuratorial organs have filed a lawsuit to investigate Luo Yulin's criminal liability for the crimes of bribery and insider trading.

During the trial, the procuratorial organs presented relevant evidence, the defendant Luo Yulin and his defense counsel conducted cross-examination, both the prosecution and the defense fully expressed their opinions under the guidance of the court, and Luo Yulin made his final statement, expressing guilt and remorse in court. At the end of the trial, the court announced a recess and scheduled a future date for the verdict. More than a hundred people, including representatives of the People's Congress, members of the Political Consultative Conference, and representatives from various sectors of the public, attended the trial.