China has carried out the execution of Bai Tianhui, a former senior banker who was found guilty of taking huge bribes worth 1.1 billion yuan, or around 155 million US dollars. The sentence was carried out on Tuesday after the Supreme People's Court approved the decision. Bai had previously served as the general manager of China Huarong International Holdings, an offshore unit of the major state-owned financial company China Huarong Asset Management. His case has drawn global attention because of both the size of the bribes involved and China’s tough response to corruption within its financial sector.
Bai’s execution comes at a time when China is intensifying its anti-corruption crackdown, especially in banking and financial services. The government has repeatedly warned officials and business leaders that major violations will invite the harshest punishment. Bai’s case is now being cited as an example of how seriously the state views corruption that harms public trust, weakens financial institutions, and damages government credibility.
The Tianjin Second Intermediate People’s Court first convicted Bai Tianhui on May 28, 2024. During the trial, the court found that Bai had accepted more than 1.1 billion yuan in bribes through various unlawful schemes during his time at China Huarong International Holdings. The bribes reportedly came in exchange for financial favours, investment approvals, and other benefits that Bai was able to influence due to his powerful position in the company.
According to the court, the scale of the corruption made the case particularly severe. The judges stated that “the amount of bribes received by Bai Tianhui was extremely large, the crime’s circumstances were particularly serious and the social impact was particularly severe.” They also added that his crime caused major harm to the interests of the state and the Chinese people, weakening financial discipline and creating deep risks for the economy.
The Supreme People’s Court reviewed the case before the execution, which is a requirement for all death sentences in China. The top court announced that the facts of the case were “clear” and that there was “conclusive and sufficient” evidence against Bai. The court concluded that the death sentence was “appropriate” under the law and necessary to reinforce the seriousness of corruption in sensitive financial sectors.
Although China carries out many executions each year, death penalties for economic crimes such as bribery are far less common today than they used to be. However, the court emphasised that the “circumstances justified severe punishment.” Bai’s personal assets were also confiscated as part of the punishment.
The court did not disclose how the execution was carried out, which is often the case in China. Executions are typically done by lethal injection or by shooting. It did note, however, that Bai was allowed to meet close relatives before the sentence was carried out.
Bai Tianhui’s case is part of a wider and long-running anti-corruption campaign led by the Central Commission for Discipline Inspection (CCDI), which is China’s most powerful anti-corruption watchdog. Over the past decade, the campaign has targeted officials, corporate leaders, regulators and managers across many sectors. The financial industry, in particular, has seen many high-profile arrests, investigations and dismissals because it plays a crucial role in China’s economic stability.
According to reports, the CCDI detained at least 54 senior officials, regulators and executives in the financial sector in 2025 alone. This shows how widespread corruption is believed to be within banks, investment houses and financial agencies, and how determined the government is to bring it under control.
This is not the first time China’s financial world has seen a death sentence for corruption. In 2021, Lai Xiaomin, the former chairman of China Huarong Asset Management and Bai’s ex-boss, was executed after being convicted of corruption, bribery and bigamy. Lai’s case also involved extremely large bribe amounts and had major public impact. Bai’s execution shows that authorities continue to use harsh punishments in cases where corruption is seen as damaging national interests.
Bai’s former company, China Huarong International Holdings, had already undergone major restructuring. The offshore unit he once headed was taken over by state-owned conglomerate Citic Group last year and renamed China Citic Financial Asset Management. This takeover was part of efforts to stabilise the company after multiple scandals and financial troubles linked to past leadership.
China’s leadership has repeatedly warned that corruption in financial institutions can undermine public confidence and weaken national economic security. The government argues that strict enforcement is necessary to ensure integrity in sectors that manage huge public funds and national assets. Critics of the system, however, often point out that China’s legal process lacks transparency.
The execution has sparked debate internationally. Human rights advocates say death penalties, especially for non-violent crimes, should not be used. Supporters of China’s anti-corruption strategy argue that such harsh measures are needed to fight deep-rooted corruption.
For now, Bai Tianhui’s execution stands as one of the most severe punishments handed out in China’s ongoing fight against corruption in the financial sector. With investigations continuing and more arrests expected, the government shows no sign of slowing down its campaign. The case also sends a strong message to financial executives within China: corruption at any level will be met with strict and, in rare cases, irreversible consequences.
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