A Chinese court sentenced the former chairman of Beijing Automotive Group to death with a two-year reprieve after finding him guilty of bribery and money laundering, along with confiscation of all his assets.
On 29 Sep 2026 GMT+7, the Third Intermediate People's Court of Beijing, China, sentenced Mr. Xu Heyi, former chairman of Beijing Automotive Group (BAIC), to death with a two-year reprieve for bribery and money laundering offenses.
The court stated that Mr. Xu was sentenced to death with a two-year reprieve for bribery but did not disclose the amount involved. For money laundering, he received a two-year prison term and a fine of 200,000 yuan (approximately 930,000 baht). Combining all penalties, the court sentenced him to death with a two-year reprieve, revoked his political rights for life, and confiscated all his personal assets along with illicit gains to be handed over to the state treasury.
Mr. Xu, 68, a native of Beijing, began working in March 1976 before rising to lead BAIC. He held several positions in the Shougang Group, one of China's major steel and industrial conglomerates, and worked in various economic and industrial agencies of Beijing. He was also awarded the National Labor Honor Medal on 1 May. Mr. Xu was investigated by Chinese authorities in March 2023 before facing prosecution.
Source: Shanghai Daily