According to a China Daily report, the Hangzhou Intermediate People’s Court in the northwest convicted him of taking bribes of more than 125 million yuan ($17 million dollars) and illegally providing aid to virtual currency companies.
Xiao, a former vice chairman of the Jiangxi Provincial Committee of the Chinese People’s Political Consultative Conference (CPPCC), was sentenced to life imprisonment for bribery and also received a six-year sentence for abuse of power.
Moreover, the court removed his political rights and ordered that all of his personal assets be confiscated.
According to the report, between 2008 and 2021, Xiao used his position as Communist Party chief in Fuzhou, Jiangxi, and vice chairman of the Jiangxi Provincial Committee of the CPPCC, to benefit individuals and departments in construction contracting, project development and labor promotion.
He also violated national development regulations by assisting some enterprises linked to virtual currency production and transaction with subsidies, financial support and guaranteed electricity.
The report stresses that this resulted in large public losses and negative social impact.