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Death sentence for corrupt ministry official
By Wang Xiang |
May 20, 2010, Thursday
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Online Edition
Online Edition
A FORMER senior official in the Ministry of Commerce was sentenced to death with a two-year reprieve for taking 8.45 million yuan (US$1.23 million) in bribes.
Guo Jingyi was the highest-ranking official brought down by corruption since the Ministry of Commerce was set up in 2003. Beijing No.2 Intermediate People's Court also confiscated all his personal assets.
According to Chinese law, the death sentence will be commuted to life in prison if Guo behaves well during the two-year reprieve.
The 44-year-old vice head of the ministry's treaty and law department was found guilty of gaining more than 8.45 million yuan in bribes, including 6.8 million in cash and 1.65 million from property, during his four-year tenure. In return, he helped the bribers by passing specially designed laws.
Guo had received 1.1 million yuan from Huang Guangyu, once China's richest man who was jailed 14 years on Tuesday. He helped Huang's company GOME to get listed on the Hong Kong stock market in 2004 by lifting a limit on the percentage of shares foreign investors could control in Chinese companies.
As the head of anti-monopoly office in the ministry, Guo also helped GOME to bypass an anti-monopoly hearing in 2006 and finish two big mergers that made GOME into China's biggest home appliance chain.
Guo cooperated with Liu Wei, the official in charge of foreign investment registration in the Administration for Industry and Commerce, to help Beijing-based Capital Group to start its foreign fund company.
Guo and Liu were given a house each at 50 percent of the market price. Prosecutors said they gained about 1.3 million yuan each from the deal.
Guo was also found guilty of giving illegal help to an unnamed company in foreign exchange examinations cooperating with Xu Mangang, a senior official of the State Administration of Foreign Exchange. He gained 3.87 million yuan from the help, the prosecutors said.
Guo Jingyi was the highest-ranking official brought down by corruption since the Ministry of Commerce was set up in 2003. Beijing No.2 Intermediate People's Court also confiscated all his personal assets.
According to Chinese law, the death sentence will be commuted to life in prison if Guo behaves well during the two-year reprieve.
The 44-year-old vice head of the ministry's treaty and law department was found guilty of gaining more than 8.45 million yuan in bribes, including 6.8 million in cash and 1.65 million from property, during his four-year tenure. In return, he helped the bribers by passing specially designed laws.
Guo had received 1.1 million yuan from Huang Guangyu, once China's richest man who was jailed 14 years on Tuesday. He helped Huang's company GOME to get listed on the Hong Kong stock market in 2004 by lifting a limit on the percentage of shares foreign investors could control in Chinese companies.
As the head of anti-monopoly office in the ministry, Guo also helped GOME to bypass an anti-monopoly hearing in 2006 and finish two big mergers that made GOME into China's biggest home appliance chain.
Guo cooperated with Liu Wei, the official in charge of foreign investment registration in the Administration for Industry and Commerce, to help Beijing-based Capital Group to start its foreign fund company.
Guo and Liu were given a house each at 50 percent of the market price. Prosecutors said they gained about 1.3 million yuan each from the deal.
Guo was also found guilty of giving illegal help to an unnamed company in foreign exchange examinations cooperating with Xu Mangang, a senior official of the State Administration of Foreign Exchange. He gained 3.87 million yuan from the help, the prosecutors said.
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