Influential businessmen have been disappearing in China for several years. Most of them reappear later - like Bao Fan, who was missing for two weeks. According to his company, the investment bank China Renaissance, he is now working with the authorities.
According to his company, Chinese billionaire Bao Fan, who has been missing for almost two weeks, is currently “cooperating” in an investigation with the authorities. Hong Kong SAR-based investment bank China Renaissance said it had learned that Bao was "currently cooperating with an investigation being conducted by certain authorities in mainland China."
The bank did not comment on the content of the investigation. However, she said she would "duly" cooperate with the authorities and "assist with any of their lawful requests" should any be made.
The bank said on February 17 that it had been unable to "contact" Bao. After the release of the statement, China Renaissance's share price fell by as much as 50 percent at times. Bao had helped launch a number of internet startups in China with his bank, including leading e-commerce firm JD.com.
In recent years, Chinese authorities have repeatedly targeted investors. Chinese-Canadian businessman Xiao Jianhua was arrested in 2017. He was sentenced to 13 years in prison in August 2022 for corruption. Xiao was reportedly arrested in Hong Kong by plainclothes Beijing police officers.
