China executes banker for taking £116 million bribes

China executed former banker Bai Tianhui for accepting £116 million in bribes while managing China Huarong International Holdings. His execution in Tianjin follows his acceptance of 1.1 billion yuan in bribes from 2014 to 2018.

Prosecutors stated that Bai's crimes severely harmed state interests and had a significant social impact. His death sentence was upheld after an appeal was rejected in February.

Bai’s case is part of a broader anti-corruption campaign by President Xi Jinping, who has already seen others, such as his predecessor Lai Xiaomin, executed for similar offenses. In 2023, 54 financial executives have been detained as part of the crackdown.