China has executed Bai Tianhui, former general manager of China Huarong International Holdings, for accepting over $156 million in bribes between 2014 and 2018, state media reported.
Bai was found guilty of offering favourable treatment in project acquisitions and financing while working at the state-controlled asset management firm. His death sentence, first handed down in May 2024, was upheld on appeal by China’s Supreme People’s Court, which described his crimes as “extremely serious” with severe social and economic impact.
Bai’s execution follows a series of high-profile anti-corruption actions targeting China’s finance sector, including the 2021 execution of Huarong’s former chairman Lai Xiaomin for $253 million in bribes. Critics argue the crackdown also allows President Xi Jinping to consolidate power, while supporters say it promotes clean governance.
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