Li Jianping received a death sentence for misappropriating over $400 million.
State broadcaster CCTV, citing a court in Inner Mongolia, reported the execution of Li Jianping, a former official convicted of corruption exceeding 3 billion yuan ($412 million). This action is part of Beijing’s extensive anti-corruption drive.
Li Jianping, previously the Hohhot economic and technological development zone’s Communist Party working committee secretary, was found guilty of bribery, misappropriation of public funds, and collusion with a criminal organization.
The 64-year-old Li was initially sentenced to death in September 2022 after being found guilty of using his position to embezzle funds. His appeal was rejected in August, and the Supreme People’s Court approved the death penalty, which was carried out on Tuesday.
The highest court confirmed Li misused over 1.437 billion yuan ($197 million) from state-owned companies “through deceptive means,” with over 289 million yuan ($39.6 million) still unrecovered.
Furthermore, he accepted over 577 million yuan ($79.2 million) in bribes for favors and embezzled over 1.06 billion yuan ($137 million) in public funds; more than 404 million yuan ($55.4 million) remained unrecovered before the case was revealed, according to Chinese media.
Last month, Liu Liange, a former Bank of China chairman, was given a death sentence suspended for two years for accepting bribes totaling nearly $17 million and illegally granting loans.
The two-year suspension, granted due to Liu’s cooperation and remorse, means the sentence will only be executed if he commits further crimes. Otherwise, he will serve a life sentence.
Since his 2022 re-election, Chinese President Xi Jinping has intensified anti-corruption efforts.
Numerous billionaires and bankers have been expelled from the party and imprisoned as part of Beijing’s extensive anti-graft campaign.
While enjoying substantial public support, critics argue the campaign allows the president to consolidate power by replacing rivals with loyalists in key positions.