The sentence was handed down to Cai by the Intermediate People's Court of Zhenjiang City in east China's Jiangsu Province.
The court found that Cai took advantage of his positions at the banking regulatory body to assist others in fundraising, loan approval, business contracting, job promotion, and equity transfer between 2006 and 2021. In return, Cai illegally accepted an especially huge amount of bribes in money and valuables.
The court also established that from 2010 to 2013, Cai abused power in performing his regulatory duties, which caused heavy losses to public property and the interests of the state and the people.
The court said Cai has been deprived of his political rights for life, and his personal property has been confiscated.
After the two-year reprieve, Cai's death sentence can be commuted to life imprisonment under the law, but no further sentence reduction or parole will be granted, the court said.
Comment: Considering the ongoing devastation wrought on economies from the 2007/8 banking collapse, as well as the West's blatant aggression towards China - and the tried and tested instruments they use to wage their hybrid warfare; which utilizes everything from NGOs to financial instruments - is it any wonder Beijing is intolerant to this kind of corruption?