Peng Farong, the chairman of China Tianping Enterprises,...

Peng Farong, the chairman of China Tianping Enterprises, was executed with the approval of the Supreme Court, for colluding with Xuan Ying, the section chief of a savings unit of the Communications Bank Kunming Branch to use high interests to lure the Yunnan Renhe Group to deposit 20m yuan in the bank. Xuan illegally transferred the money to Peng's accounts, who paid 1.2m yuan and a Honda vehicle to Xuan as rewards. In May 1997, Peng and Xuan employed the same method to obtain 50m yuan from the Yunnan Province Import and Export Corporation. On April 21, in a second trial, the Yunnan Higher Court sentenced Peng and Xuan to death with a two-year reprieve.