China on Tuesday executed Bai Tianhui, former general manager of China Huarong International Holdings, after he was convicted of taking more than $156 million in bribes, according to CCTV. Bai was accused of granting favourable treatment in project acquisitions and financing between 2014 and 2018. His death sentence, issued in May 2024 in Tianjin, was upheld on appeal and approved by the Supreme People’s Court.
The court ruled that Bai’s crimes were “extremely serious”, caused “exceptionally significant losses”, and had an “especially egregious” social impact. Huarong, a major target of President Xi Jinping’s anti-corruption campaign, has seen several top executives punished, including its former chairman who was executed in 2021. Bai was put to death on Tuesday morning after meeting relatives, state media reported.