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Added on the 03/04/2014 21:24:54 - Copyright : France 24 EN
In an unusually harsh punishment, China has condemned one of the country's top bankers to death over bribery and bigamy charges. Business Insider reports the condemned man is Lai Xiaomin, ex-chairman of the banking giant China Huarong Asset Management. He was found guilty of accepting $277 million in bribes between 2008 and 2018, and has been called China's most corrupt financial official. Execution by lethal injection is not a typical punishment for corruption, which usually results in a lifetime prison sentence. The death sentence comes as part of an anti-corruption crusade led by Chinese President Xi Jinping. Since its start, the commission has punished about 1.5 million officials.
A week before the fintech Ant Group went public, Chinese President Xi Jinping called the proceedings to a halt. Business Insider reports Xi stopped the historic $37 billion initial public offering after its founder, Jack Ma, criticized government leaders. At a conference in Shanghai, Ma made incendiary comments that didn't go down well with the president or other government officials. Ma dismissed global banking rules, saying they got in the way of innovation. As large private businesses accumulate wealth and power in the communist nation, Xi has displayed a low tolerance for them as they threaten his authority.
Chinese President Xi Jinping arrives in Athens for his three-day visit where he will meet Greek President Prokopis Pavlopoulos and Prime Minister Kyriakos Mitsotakis before heading to a BRICS summit in Brazil. Xi's visit comes on the heels of a four-day trip to Shanghai by new conservative PM Mitsotakis. IMAGES
Chinese President Xi Jinping leaves Vietnam after a two-day state visit to the neighbouring communist country. The trip was Xi's first to Vietnam in six years, and the two nations committed to deeper ties and signed more than 30 agreements, including a pledge to develop rail links between Vietnam and China. IMAGES
Chinese President Xi Jinping attends a ceremony commemorating Martyrs' Day ahead of National day to mark the 74th anniversary of the founding of the People's Republic of China (PRC) on the Tiananmen Square. IMAGES
Russian President Vladimir Putin meets his Chinese counterpart Xi Jinping during the Shanghai Cooperation Organisation summit in Samarkand, Uzbekistan. IMAGES
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