SHANGHAI — Huang Peiyu, former chairman of state-owned Xiamen Motor Co., reportedly is sentenced to death for embezzling more than US$7 million from his company.

The former auto executive was convicted of selling 25% of the government's stake in Xiamen Motor to a foreign buyer, diverting the proceeds into his account in the Cayman Islands. Huang returned some of the money after he was arrested in 1997.

His sentence has been suspended for two years, a company official says in a published report, and his life might be spared if no other irregularities are found.