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Chinese billionaire tech banker Bao Fan mysteriously vanishes | New York Post
Posted
February 17, 2023
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February 17, 2023
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0:47Now PlayingOne of China’s most high-profile bankers, billionaire investor Bao Fan, has gone missing — marking the latest disappearance of a top executive in the tightly-controlled country.
China Renaissance Holdings said in a market update Thursday that it has been “unable to contact” its chairman and CEO in recent days.
His disappearance is the latest in a series of cases of prominent Chinese executives going missing with little explanation amid President Xi Jinping’s sweeping anti-corruption campaign.
Shares of the Beijing-based China Renaissance Holdings plunged by as much as 50% in early trading Friday on the news of Bao’s mysterious disappearance, wiping off $357 million in market value. They were down about 28% in the afternoon.
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