Former Shanghai Electric Chair Gets Suspended Death Sentence in Graft Case
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Zheng Jianhua, former chairman and Communist Party chief of Shanghai Electric Group, is sentenced to death with a two-year reprieve on Jan. 13, 2026.
Zheng Jianhua, the former chairman of state-owned Shanghai Electric Group Corp., was handed a suspended death sentence on Tuesday for bribery and abuse of power, capping a years-long investigation into one of China’s most high-profile corporate scandals.
The Shanghai No. 1 Intermediate People’s Court found Zheng guilty of accepting more than 156 million yuan ($22.2 million) in bribes between 2003 and 2021, in addition to embezzlement and the misuse of public funds.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
Explore the story in 30 seconds
- Zheng Jianhua, ex-chairman of Shanghai Electric, received a suspended death sentence for bribery, embezzlement, and abuse of power after taking over 156 million yuan in bribes.
- The scandal involved an underground financing scheme, a failed trading model that led to an 8.7 billion yuan default, and over 700 million yuan in unrecovered state funds.
- Mitigating factors for sentencing included Zheng’s cooperation and partial restitution; leniency may result in life imprisonment.
AI generated, for reference only
Who’s Who
- Shanghai Electric Group Corp.
- Shanghai Electric Group Corp. is a state-owned Chinese company whose former chairman, Zheng Jianhua, received a suspended death sentence for bribery and abuse of power. The company experienced multibillion-yuan losses from an underground financing scheme and a disastrous "private network communication" trading scheme, resulting in a significant default at a subsidiary. Their strategic partnership with the debt-laden China Evergrande Group also led to impairment losses.
- China Evergrande Group
- China Evergrande Group was involved in a strategic partnership with Shanghai Electric Group in 2018. The chairman of Shanghai Electric Group, Zheng Jianhua, praised Evergrande's business model before the property giant's collapse. This collapse led to impairment losses for Shanghai Electric.
AI generated, for reference only
What Happened When
- Between 2003 and 2021：
- Zheng Jianhua accepted more than 156 million yuan in bribes.
- 2018：
- Zheng Jianhua initiated a strategic partnership with China Evergrande Group.
- From 2018 until the start of the investigation in 2021：
- Zheng Jianhua diverted state funds for unauthorized loans.
- Shortly before 2021：
- Zheng praised Evergrande's business model publicly.
- By 2021：
- Over 700 million yuan in public funds remained unrecovered when authorities intervened.
- 2021：
- Shanghai Electric's 'private network communication' trading scheme collapsed, triggering an 8.7 billion yuan default at a subsidiary, and the investigation into Zheng began.
- January 13, 2026：
- Zheng Jianhua was handed a suspended death sentence by the Shanghai No. 1 Intermediate People’s Court.
- January 13, 2026：
- The court imposed a two-year reprieve on Zheng’s death sentence.
AI generated, for reference only
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新