Li Aiqing, former Party chief and chairman of Beijing Capital Group, was convicted of bribery and abuse of power by personnel of State-owned companies, according to an announcement from the Beijing No 1 Intermediate People's Court on Monday.

For the crime of bribery, Li was sentenced to death with a two-year reprieve, deprived of political rights for life, and had all personal property confiscated. For the crime of abuse of power by personnel of State-owned companies, he was sentenced to four years in prison. Under the combined punishment for multiple offenses, the court decided to sentence Li to death with a two-year reprieve, deprive him of political rights for life, and confiscate his personal property.

All illicit gains and proceeds from Li's bribery crimes were confiscated and turned over to the State treasury.