Yuan Baojing

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Yuan Baojing (袁寶璟) (1966 – March 17, 2006) was the president of the Jianhao Group and Beijing's wealthiest multi-millionaire. In March 2006, he and two accomplices were sentenced to death by a Liaoyang court for the October 2003 murder of Wang Xing, a hitman he had hired to kill a rival businessman in Sichuan, who had caused his company to lose $13 million in futures trading. The hitman later turned informer. Yuan was put to death just fifteen minutes after the sentence was pronounced, together with his brother and cousin Yuan Baoqi and Yuan Baosen. He was the wealthiest convict to be executed in PRC history.

Yuan was found guilty of the murder in January 2005 and was due to die by firing squad on 14 October. After the date passed and the sentence was not carried out, it rumoured that the day before the execution date his wife transferred ownership of shares worth 49.5 billion yuan to the government. The assets comprised equities including a 40 percent stake in an Indonesian oil company held by Yuan through a Hong Kong firm.

Yuan Baojing, along with Yuan Baoqi and Yuan Baosen, were killed by lethal injection shortly after the trial. Yuan Baofu, also sentenced to death, had his sentence suspended for two years.

Yuan Baojing's wife Zhuoma, an ethnic Tibetan choreographer will almost certainly inherit the bulk of Yuan's fortune.^{[dubious — see talk page]} China has no inheritance tax.

[edit] References

• Money now buys him life, The Standard: China's Business Newspaper (Hong Kong), 3 November 2005.
• Billionaire executed for contract murder, Xinhua, from "Shanghai Daily", 18 March 2006.
• China Executes Former Business Tycoon, Voice of America, 18 March 2006.