Monday, December 4, 2023

China Renaissance chief banker Bao Fan missing

The 52-year-old dealmaker had been unreachable for two days as of Thursday evening.

• February 17, 2023
Chairman of China Renaissance, Bao Fan
Chairman of China Renaissance, Bao Fan

Bao Fan, Chinese billionaire and Chairman of investment bank China Renaissance has been declared missing. 

“The company has been unable to contact Mr Bao”, China Renaissance said in an announcement to the Hong Kong Stock Exchange on Friday. 

The bank noted that it was not aware of any information indicating that Mr Bao’s “unavailability” was related to the bank’s business.

The 52-year-old dealmaker had been unreachable for two days as of Thursday evening.

Mr Bao is a major figure in the Chinese tech industry, who has also played a key role in the emergence of various domestic internet startups.

The sudden disappearance of the Chinese billionaire has raised concerns about a renewed crackdown on China’s finance industry as President Xi Jinping continues his long-standing crusade against public corruption.

In September, China Renaissance’s former president, Cong Lin, was apprehended by Chinese authorities, according to Caixin, a Chinese financial media outlet.

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