ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

'Bad bank' chief was 'enemy within,' China watchdogs say

Huarong ex-Chairman Lai's corruption case serves as warning to industry

Lai Xiaomin, former chairman of China Huarong Asset Management, was sentenced to death on Jan. 5. after he was found guilty of taking 1.79 billion yuan in bribes.   © Reuters

China's top corruption watchdog has branded a financial big shot sentenced to death for bribery as an "enemy within" for the financial system, using the high-profile case to underscore the resolve of the country's leaders to tighten their grip on bad-debt managers and curb financial risks.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more