After four years of being ousted from the position, Li Aiqing, former chairman of Beijing Capital Start-up Group Co., Ltd. (referred to as Start Group), has been sentenced to death penalty with a two-year reprieve in the first instance. Li has been dubbed by the Chinese media as the “number one corrupt official of the Beijing state-owned enterprises”.
According to a report from the Beijing High People’s Court on June 30th, the Beijing First Intermediate People’s Court publicly sentenced Li Aiqing for bribery and abuse of power in a state-owned company, convicting him of receiving bribes and sentencing him to death penalty with a two-year reprieve. He has been deprived of his political rights for life and all personal assets have been confiscated.
The Southern Metropolis Daily reported that Li Aiqing could be considered as the “number one corrupt official of the Beijing state-owned enterprises”. He held the top position in Beijing State-owned Assets Company and Start Group for a total of 18 years before being investigated in July 2021, a little over a year after stepping down as the top executive of Start Group.
In March 2022, Li Aiqing was expelled from the Party and dismissed from public office. His expulsion report stated that he engaged in power-for-sex transactions; illegally accepted large sums of money from others; and abused power, causing significant losses to the national interests.
The Central Commission for Discipline Inspection and the National Supervisory Commission revealed that Li Aiqing used his influential position to solicit and accept bribes totaling over 200 million yuan from private business owners, making it the largest bribery case uncovered by the Beijing Supervision Commission since the reform of the supervisory system. He considered himself the “savior” of state-owned assets, an individual with absolute authority and a unique power not restrained by any regulations or norms.
Public records show that Li Aiqing was born in September 1959 and started working at the Beijing Municipal Finance Bureau in August 1982. He worked in the Beijing financial system for nearly 18 years, holding various positions including cadre of the Industrial Enterprise Finance Management Department, deputy director, director, chief accountant, and deputy director of the bureau.
In January 2000, Li Aiqing was appointed as Deputy Secretary-General of the Beijing Municipal Government, Deputy Director of the Government Office, Deputy Secretary of the Party Committee, and Deputy Director.
In March 2002, Li Aiqing was transferred to serve as the Chairman of Beijing State-owned Assets Operation Co., Ltd. (referred to as “Beijing State-owned Assets Company”) and remained in this position for 14 years. In June 2016, he was appointed as Secretary of the Party Committee and Chairman of Start Group until his resignation in April 2020.
The Beijing Municipal Commission for Discipline Inspection and Supervision had previously reported that Start Group had illegally increased the benefits for retired leadership team members. After retiring, the company rehired them as consultants, not only retaining their original salaries but also providing monthly consultant allowances, living allowances, and welfare subsidies equivalent to those of active employees. Each retiree also received a commemorative gold coin weighing from 120 to 160 grams upon retirement.
Beijing Capital Start-up Group Co., Ltd. is a state-owned sole proprietorship enterprise under the Beijing State-owned Assets Supervision and Administration Commission, established in 1995. Its main business sectors currently include environmental protection industries, infrastructure, real estate, and financial services.