Wu Qing, a Chinese fugitive suspected of business fraud who fled overseas, has become the first fugitive to turn himself in after China's top disciplinary body issued a new notice granting leniency for fugitives who voluntarily return.

Wu, the former general executive and board chairman for a cotton and linen company in Huaian, Jiangsu province, returned on Friday, according to a statement from the Central Commission for Discipline Inspection (CCDI).

He fled the country to Canada on November 2013 as a criminal suspect of misappropriation of funds, embezzlement and loan fraud, according to the CCDI.

The CCDI again urged fugitives overseas to completely abandon their illusions, swiftly turn themselves in and return ill-gotten gains to earn leniency.

On Thursday, the CCDI issued a notice granting leniency for Chinese fugitives overseas if they turn themselves in by the year's end. The new rule took effect on Thursday and will run until Dec 31.

Fugitives who fail to surrender voluntarily within the period and are later sent back will be severely punished, the notice said. At the same time, those who illegally help fugitives by destroying evidence, transferring ill-gotten gains or hiding a person's whereabouts will also face criminal charges.

In June, the CCDI issued a list of the 50 most wanted Chinese fugitives who had fled overseas on economic and job-related crimes.

The list included Wu and some of his personnel information, including his name, age, suspected charges, Chinese ID number and passport number used for the escape.

Three of the 50 fugitives have now returned, the CCDI said on Friday. As of the end of April, 4,141 Chinese fugitives have returned or been sent back from more than 90 countries and regions.