About it to Agency Reuters said the Beijing court.
Guanyi was arrested in 2008. He was accused of stock fraud and corporate bribery. A businessman pleaded guilty and assisted the investigation.
In February 2020, a court in Beijing has reduced the term of imprisonment a convicted billionaire, but his release and local media reported only on June 24. According to the Agency, the news about Guanaja from prison provoked growth of shares of GOME Retail company on the Hong Kong stock exchange 17.4%, the shares of a subsidiary Finance Technology GOME has risen by 47.3%.
In 2005, his fortune was estimated at $1.7 billion, he was considered the richest man in China.