"China Shows No Leniency"... Former Financial Institution Chief Executed for 200 Billion Won Bribery

Execution of Former Huarong International Holdings Chairman Bai Tianhui

Chinese authorities have executed the former head of a state-owned financial institution who was indicted on charges of accepting bribes worth approximately 200 billion won. Observers note that this reaffirms the "zero-tolerance anti-corruption policy" that has continued under President Xi Jinping's administration.

On December 9, China Central Television (CCTV) reported that the Tianjin No. 2 Intermediate People's Court carried out the execution of Bai Tianhui, former Chairman of Huarong International Holdings, on the same day after receiving approval from the Supreme People's Court.

Bai Tianhui, former representative. China Central Television (CCTV)

Bai Tianhui was indicted on charges of accepting a total of 1.108 billion yuan (about 230 billion won) in exchange for facilitating project acquisitions and financing while working at Huarong International Holdings from 2014 to 2018. In May last year, the Tianjin No. 2 Intermediate People's Court sentenced him to death, permanently revoked his political rights, and ordered the confiscation of all his personal assets.

Bai Tianhui appealed the decision, but the Tianjin High People's Court dismissed the appeal and upheld the original verdict. The Supreme People's Court stated that "the facts established in the first and appellate trials are clear, the evidence is solid, and the sentence is appropriate."

Meanwhile, China has continued a large-scale anti-corruption campaign targeting high-ranking party and government officials under President Xi's leadership. This latest execution demonstrates that this policy remains firmly in place.

Previously, in December last year, Li Zhenping, former Party Secretary of the Economic and Technological Development Zone in Hohhot, Inner Mongolia, was executed after being convicted of crimes involving embezzlement, bribery, and misappropriation of public funds totaling 3 billion yuan (about 620 billion won). At the time, Li Zhenping testified that he used the illicit funds to collect precious metals and luxury watches. In addition, various domestic and foreign premium liquors purchased with the money were also found in his personal vault.