China Renaissance bank says missing chairman Bao Fan is cooperating with authorities in investigation
BEIJING – China Renaissance Holdings said in an exchange filing on Sunday that its missing chairman and star dealmaker Bao Fan was currently cooperating with the relevant Chinese authorities conducting an investigation.the disappearance of its founder,“The board would like to reiterate that the business and operations of the group are continuing normally,” the bank said in the exchange filing.
The dealmaker’s disappearance was the latest in a series of cases of high-profile Chinese executives going missing with little explanation during a sweeping anti-corruption campaign spearheaded by Chinese President Xi Jinping. Mr Bao, 52, is one of many Chinese born in the 1960s and 1970s who benefited from policies that opened up China. His parents were diplomats, and he was exposed to the outside world before most of his generation.
Mr Bao helped put together three of the four mega mergers in 2015 that produced dominant Internet companies such as Didi, which was China’s answer to Uber, and the meal delivery giant Meituan.
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