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business1 year ago

"Missing Chinese Banker Bao Fan Resigns Amid Investigation and Disappearance"

Bao Fan, the prominent investment banker who disappeared nearly a year ago amid a Chinese investigation, has resigned as chairman and chief executive of China Renaissance Holdings, citing "health reasons" and a desire to focus on family affairs. His resignation comes amidst Beijing's crackdown on the business elite and signals an escalation in the government's anti-corruption campaign. The company did not disclose the nature of the investigation, and Xie Yijing has been appointed as the permanent head of China Renaissance.

via The New York Times|
#bao-fan#business#china-renaissance-holdings
business1 year ago

Chinese Banker Bao Fan Resigns Amid Disappearance Mystery

Bao Fan, a prominent Chinese tech banker who disappeared a year ago amid an anti-corruption crackdown, has formally resigned from China Renaissance for "health reasons and to spend more time on his family affairs." The company announced a management reshuffle to replace Bao, with Xie Yi Jing succeeding him as the new chairman. Bao's disappearance coincided with a sweeping anti-corruption crackdown in China's financial sector, and the release of the company's financial results is crucial for its shares to resume trading on the Hong Kong stock exchange.

via CNN|
#anti-corruption-crackdown#bao-fan#business
business1 year ago

"Missing Chinese Billionaire Banker Bao Fan Resigns from All Roles Amid Investigation"

Chinese billionaire banker Bao Fan, missing for almost a year, has resigned from all roles at his firm, China Renaissance Holdings, citing health reasons and family affairs. His unexplained disappearance in February last year shocked China's business community, and the company stated that he is cooperating with authorities in an investigation. The company's co-founder will assume Mr. Bao's most senior roles, but no details about his whereabouts were provided. This incident follows a pattern of high-profile disappearances in China's business world, including that of Alibaba founder Jack Ma.

via BBC.com|
#bao-fan#billionaire#business
business2 years ago

Founder's disappearance leads to trading suspension and delayed results for China Renaissance.

China Renaissance, a top dealmaker in China's tech industry, has suspended trading of its shares and delayed the release of its annual results due to the disappearance of its founder, Bao Fan, who has been unreachable since mid-February and is reportedly cooperating in an investigation. Auditors couldn't complete their work or sign off on their report because of Bao's absence, and the board was unable to give an estimate about when it would be able to approve its audited results for 2022 or dispatch its annual report by an April 30 deadline as required by Hong Kong's listing rules. Trading in the company's shares was suspended from Monday as a result.

via CNN|
#annual-results-delay#bao-fan#business