Page 9 - Cong Lin News Today

The entrepreneur appears to be the latest high-profile Chinese executive to go missing with little explanation

Bao Fan, one of Chinas most notable billionaires, is missing, his company says, renewing fears over possible crackdowns from the Chinese Communist Party on finance and tech figures.

The China Renaissance Holdings stated in a market update on Thursday that Bao Fan, CEO of the company, had not been reachable in recent days. Top IT firms Didi and Meituan are among the clients of Mr. Bao, a well-known deal broker in China. The move by his company has rekindled worries about a future crackdown in Beijing on leaders in technology and finance.

The Chinese billionaire chairman of investment bank China Renaissance has gone missing, the firm said, as shares in the company plunged in Hong Kong on Friday.Bao Fan, who is also executive director...

Bao Fan, the chief executive of China Renaissance Holdings, had not been able to be reached in recent days, the firm said in a market update on Thursday.

Billionaire chief executive of China Renaissance Holdings Bao Fan disappeared in recent days, according to a Thursday report from the firm cited by the BBC. 

Shares of the company that operates one of Chinas top investment banks, China Renaissance, plunged Friday after the firm said it had lost touch with its founder Bao Fan, one of the countrys most high-profile bankers and a top tech-sector dealmaker.

The company is now unable to contact Mr Bao, China Renaissance said in an announcement on Thursday - unable to offer anymore details about the mysterious disappearance.

The stock of the China Renaissance investment bank has plummeted since Bao Fan’s disappearance

Bank boss latest tycoon to become ‘unreachable’ amid Xi Jinping crackdown