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China Executes Former Head of Asset Management Firm in Bribery Case

Lai Xiaomin

Lai Xiaomin

Photographer: Tomohiro Ohsumi/Bloomberg

Updated on

Beijing (AP) -- The former head of a Chinese state-owned asset management company was executed Friday on charges of taking bribes in an unusually severe penalty for a recent corruption case.

Lai Xiaomin of China Huarong Asset Management Co., was among thousands of officials snared in a long-running anti-graft campaign led by President Xi Jinping. Others including China's former insurance regulator have been sentenced to prison.