US EditionChina Sentences Former Top Banker to Death Under the Charges of Corruption
- On Tuesday, China executed Bai Tianhui, former general manager of China Huarong International Holdings, after his conviction for taking $156 million in bribes.
- On May 28, 2024, a Tianjin court sentenced Bai to death, and China's higher courts upheld the verdict after CCTV said he exploited senior roles at Huarong International Financial Holdings Ltd and China Huarong International Holdings Ltd to accept money and assets.
- CCTV quoted the Supreme People's Court describing the bribe-taking as 'particularly huge' and causing 'particularly serious losses' to the state and the people.
- The action is the latest in China's widened anti-graft campaign targeting finance, punishing several other senior banking figures and Huarong executives.
- Earlier high-profile cases included Lai Xiaomin's execution after 1.79 billion yuan in bribes, while Liu Liange received a death sentence with a two-year reprieve for 121 million yuan.
42 Articles
42 Articles
China's anti-corruption crackdown sees execution of ex-chief of financial assets company over $156 bribery
China executed Bai Tianhui, a former executive of China Huarong International Holdings, over corruption charges involving $156 million bribery. China's anti-corruption campaign targeted numerous high-profile figures in the finance industry in the past.
China complied with the execution of Bai Tianhui, former general manager of China Huarong International Holdings, after being convicted of accepting bribes of more than $156 million in exchange for favourable deals in the acquisition and designation of projects.
China executed Pai Tianhui, a former high-ranking banker at state-owned financial firm Huarong Asset Management, on Tuesday after being convicted of accepting bribes worth more than 1.1 billion yuan (3.25 billion CZK). The company's former director, Lai Xiaomin, was executed in 2021 in connection with the same case.
A former manager of China's Huarong financial company has been executed for bribery, and the case shows how tough Beijing is against corruption in the state sector.
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