Overview
- State media said Bai was put to death in Tianjin on Tuesday morning after meeting close relatives.
- Prosecutors said he accepted more than $156 million between 2014 and 2018 in exchange for favorable treatment in acquisition and financing deals.
- CCTV reported he exploited senior roles at China Huarong International Holdings and Huarong International Financial Holdings in Hong Kong.
- A Tianjin court imposed the death sentence in May 2024, the verdict was upheld in February 2025, and the Supreme People's Court approved it without suspension.
- China Huarong International Holdings is a key offshore financing arm of the asset manager now called China CITIC Financial Asset Management, with Huarong previously seeing its former chairman Lai Xiaomin executed in 2021.