Why do Chinese billionaires keep vanishing?
In 2015 alone, at least five executives became unreachable, including Guo Guangchang, chairman of conglomerate Fosun International, which is best known in the West for owning English Premier League football club Wolverhampton Wanderers.
The most high-profile disappearing billionaire was Alibaba founder Jack Ma. The then-richest person in China vanished in late 2020 after criticising the country's financial regulators. The Chinese government insists the actions taken against some of the country's richest people are purely on legal grounds and has pledged to root out corruption. But Beijing's actions also come against the backdrop of decades of liberalisation of what is now the world's second largest economy.
The theory goes like this: Big business, especially the technology industry, saw its power grow under the policies of Mr Xi's predecessors Jiang Zemin and Hu Jintao. "Sometimes, these incidents are orchestrated in a way to send a wider message, particularly to a specific industry or interest group," Nick Marro from The Economist Intelligence Unit told the BBC.
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