A Chinese court on Monday upheld the death sentence for Bai Tianhui, former general manager of China Huarong International Holdings, after rejecting his appeal in a bribery case involving more than 1.1 billion yuan ($151.8 million).

The Tianjin High People's Court announced its decision on its official WeChat account, saying it had upheld the original ruling by the Tianjin No 2 Intermediate People's Court. The sentence has been submitted to the Supreme People's Court, China's top court, for mandatory review, it said.

In China, death sentences issued by lower courts must be reviewed and approved by the Supreme People's Court before they can be carried out.

Bai was sentenced to death in May after being convicted of using his positions in the investment company from 2014 to 2018 to secure benefits for multiple entities in project acquisitions and corporate financing, in exchange for bribes exceeding 1.1 billion yuan, according to court records.

He was also deprived of political rights for life, with all his personal assets confiscated. The court ordered that his illicit gains and any interest earned from them be turned over to the national treasury.

The case follows the high-profile corruption trial of Lai Xiaomin, former chairman of China Huarong Asset Management, who was executed in 2021 after being convicted of accepting more than 1.78 billion yuan in bribes. Lai was also found to have embezzled and extorted more than 25.13 million yuan in public funds and to have maintained a bigamous relationship over an extended period.