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GUANGZHOU - The former president of China's beverage giant Jianlibao Group went on trial on Thursday for allegedly misappropriating 214 million yuan (27.2 million U.S. dollars) of company funds, according to the Intermediate People's Court in Foshan city, where the Jianlibao's headquarters are based.

Zhang Hai, who was arrested on March 24, 2005, denied the charge.

The trial will resume on Friday.