Jailed boss is 'a warning to others'

Authority hails work with Aussie counterparts as crook gets 26 years

GUANGZHOU - The conviction of a Chinese fugitive for money laundering in Australia has been hailed as a major breakthrough in joint efforts between the two countries to punish corrupt officials and executives.

Li Jixiang, former manager of Nanhai Zhiye, a State-owned real estate company, was sentenced to 26 years in prison for abuses of power, accepting bribes and misappropriating public funds.