An influential property tycoon, who is a known critic of Chinese President Xi Jinping and the Communist Party has been sentenced to 18 years of prison in China due to charges of corruption.

Sixty-nine-year-old businessman Ren Zhiqiang was found guilty of accepting bribes totaling to $2.9 million in a span of 14 years. He was also charged with embezzlement of public funds by the Beijing court.

According to NPR, Ren's sentence was given in a trial that was not publicized. All his assets were also seized by the court and he was fined $620,000.

Several analysts have predicted that the sentence given to Ren is likely to further discourage the business elite in the country from disagreeing with the Communist Party.

Aside from Ren, there are also other critics of the Communist Party and Chinese President Xi Jinping who were given harsh punishment.

Back in July, a constitutional law professor who was very open with his criticisms on the Communist Party and the centralization of power by Xi's government, Xu Zhangrun was detained by the police over alleged solicitation of prostitutes. As of the moment, Zhangrun is still in house arrest.

Moreover, a friend of Xu, Geng Xiaonan, who is a filmmaker and publisher, defended Xu through giving interviews to international media. According to friends of Geng, she also became a victim of the political oppression in the country as she and her husband have been detained for illegal business activities in Beijing just this month. Many have suspected that her advocacies for Xu have been the main reason for the charges.

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However, the downfall of Ren has served as one of the biggest warnings to the private business elite against speaking ill of the Chinese Communist Party.

Earlier this month, new guidance which advocates a greater control of the CCP to the Chinese private sector was issued by the party.

In a statement released by the CCP through its general office, it stated that private businessmen should be educated and guided in order to arm their minds with the thoughts of Xi Jinping regarding socialism. According to them, this is essential in order to maintain a high level of consistency within the political positions f the Party Central Committee for the new era.

In the past, Ren has balanced his critique and political survival as a part of the country's political elite. He was also a veteran member of the Communist Party being a son of a former vice-minister of commerce.

Ren built his business in the 1990s during the boom of China's infrastructure business. He also became a property magnate in the early 2000s and became chairman of the Huayuan Real Estate Group, a real estate developer.

Aside from his success in business, Ren also became famous for being outspoken about his views on the CCP.

After being detained in March, Ren was expelled from the Communist Party in June. He was then placed under investigation for criminal acts including staining the image of the Party and disloyalty to the CCP, The Financial Times reported.

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