Bribery Unveiled: The Execution of Bai Tianhui and China's Anti-Graft Crusade

China executed Bai Tianhui, a former manager of China Huarong International, for accepting bribes worth $156 million. Bai's conviction is part of a broader campaign against corruption in the financial sector. His execution follows that of former chairman Lai Xiaomin, reflecting China's strict stance on graft.

In a stern warning to the financial sector, China executed Bai Tianhui, former general manager of China Huarong International Holdings, for accepting bribes amounting to 1.1 billion yuan, equivalent to $156 million. This was reported by state broadcaster CCTV.

Bai's role was central in securing offshore financing for China Huarong Asset Management, now known as China CITIC Financial Asset Management following its 2024 rebranding. Bai's offenses were deemed exceptionally damaging, resulting in substantial losses to both the state and its citizens.

The action underscores China's intensified anti-graft drive, especially in the financial domain. This followed the high-profile execution of former Huarong chairman Lai Xiaomin in 2021, cementing Beijing's relentless pursuit of accountability.

(With inputs from agencies.)