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One of China’s most high-profile billionaire bankers reported missing

After his company claimed it lost touch with him, one of China’s most prominent billionaire bankers went missing.

Bao Fan, the founder of China Renaissance’s investment bank, has disappeared. This follows a Beijing-led crackdown on large technology companies in the past two years. Beijing claimed that the crackdown was over.

China’s tech industry is led by Mr Bao, who worked on important deals such as the PS1.6bn initial public offer of e-commerce company JD.com.

He was also involved in the Hong Kong public listing of Kuaishou’s short video platform.

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According to Chinese news outlet Caixin, Cong Lin, the former president of China Renaissance, was taken by Chinese authorities last September.

Anti-graft investigations in China have led to the arrest of dozens of finance officials at financial institutions like China Construction Bank, Everbright Securities, and ICBC.

Wang Wenbin, a spokesperson for the Chinese foreign ministry, said that he wasn’t aware of Mr Bao’s disappearance when questioned at a news conference.

He stated, “I would like you to emphasize that China is a country subject to the rule of law and that the Chinese government protects Chinese citizens’ rights and interests in accordance with law.”


China Renaissance stated in a filing sent to Hong Kong’s stock market on Thursday that it was unable to contact Mr Bao.

According to Caixin, the 52-year-old was unreachable for two consecutive days by that evening.

According to the company, it did not know of any information that indicated Mr Bao was unavailable for business.

After the announcement of the disappearance of Mr Bao, shares in China Renaissance plummeted as high as 50% in Hong Kong.

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Before founding China Renaissance, Mr Bao worked previously at Credit Suisse and Morgan Stanley.

Forbes Magazine reports that he has been reported missing following the disappearance of at least half a dozen billionaires from China over recent years. These were reportedly due to run-ins against the ruling Communist Party.

In many cases, they were alleged to be involved in tax and corruption investigations.

Fosun group founder Guo Guangchang has vanished for several weeks in 2015.

Xiao Jianhua , a Chinese-Canadian businessman who was one China’s most powerful people, was captured in 2017.

In 2022, he was sentenced to prison for corruption.

Alibaba’s billionaire founder Jack Ma was removed from the public eye for three months in 2020.

He has previously made criticisms of market regulators.

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