China executes ex-Huarong exec Bai Tianhui for Rs 1,404 crore bribery

• China executed former senior banker Bai Tianhui for corruption and bribery.
• Bai Tianhui was found guilty of obtaining over 1.1 billion yuan (Rs 1,404 crore) in unlawful payments.
• The execution is part of China's ongoing anti-corruption campaign in financial institutions.
• Bai served as an executive at China Huarong International Holdings, an offshore unit of China Huarong Asset Management.
• His former superior, Lai Xiaomin, was also executed for corruption in 2021.

Why It Matters: China's execution of a banker signals its severe crackdown on financial corruption.