China Executes Former Senior Banker For Taking Over $156 Million In Bribes

Last Updated:December 09, 2025, 14:54 IST

China executed former Huarong executive Bai Tianhui for taking over $156 million in bribes, one of the harshest punishments yet in Xi Jinping’s ongoing anti-corruption crackdown.

Bai Tianhui (C), the former general manager of China Huarong Holdings (CHIH) (Photo: AFP)

China on Tuesday carried out the execution of a former senior executive at one of the country’s leading state-controlled asset management companies, state media reported, marking the latest severe punishment in the government’s extensive anti-corruption campaign.

Bai Tianhui, who previously served as general manager of China Huarong Holdings (CHIH), was convicted of taking more than $156 million in bribes in exchange for providing favourable treatment in project acquisitions and financing deals between 2014 and 2018.

According to a report with AFP, Bai used his influential position repeatedly to benefit others, accepting huge sums in return.

CHIH operates as a subsidiary of China Huarong Asset Management, which is among China’s largest firms dealing with distressed debt.

Over the past several years, Huarong has been at the centre of President Xi Jinping’s sweeping crackdown on graft, becoming one of the most prominent institutions to face scrutiny.

Its former chairman, Lai Xiaomin, was executed in January 2021 after being found guilty of taking $253 million in bribes, one of the largest corruption cases in decades.

Numerous other executives from Huarong have likewise been investigated or punished as part of the ongoing campaign.

Although Chinese courts sometimes issue death sentences for corruption, many are delivered with a two-year reprieve that is typically commuted to life imprisonment.

Bai’s sentence, however, was issued without suspension when the Tianjin court first ruled on his case in May 2024.

He appealed the verdict, but his challenge was rejected in February, with the original judgment upheld.

The Supreme People’s Court, which reviews all executions before they are carried out, confirmed the ruling.

State broadcaster CCTV quoted the court as stating that Bai’s actions constituted crimes of “extreme seriousness."

The court noted that the bribes he accepted were extraordinarily large, the circumstances of the offences were exceptionally grave, and the resulting harm to state and public interests was significant.

It added that the social impact of his misconduct had been “especially egregious."

Bai was executed in Tianjin on Tuesday morning after being permitted to meet close family members.

State media did not disclose the method used to carry out the death sentence.

China treats data on executions as classified, but rights organisations such as Amnesty believe the country executes more people annually than the rest of the world combined.

Earlier this year, Li Xiaopeng, who once led state-owned Everbright Group, received a 15-year sentence for accepting 60 million yuan in bribes.

In November 2024, Liu Liange, former chairman of the Bank of China, was given a death sentence with a two-year reprieve for taking 121 million yuan in illicit payments.

News world China Executes Former Senior Banker For Taking Over $156 Million In Bribes

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