By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: China: Bao Fan Disappearance
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Asia > China > China: Bao Fan Disappearance
China

China: Bao Fan Disappearance

Shayne Heffernan Ph.D.
Last updated: February 26, 2023 10:30 pm
Shayne Heffernan Ph.D.
Share
4 Min Read
128657432 gettyimages 1095740998
SHARE

Chinese billionaire Bao Fan is “cooperating in an investigation” by authorities, his company said, almost two weeks after his disappearance sparked fears of a renewed crackdown on the nation’s financial services industry. 

The China Renaissance chairman rose to fame as a key player in the emergence of some of the country’s biggest tech giants, supervising blockbuster IPOs and a landmark merger between major ride-hailing firm Didi and its top competitor at the time, Kuaidi Dache.

His Hong Kong-listed firm said in a filing dated Sunday that it was now “aware that Mr. Bao is currently cooperating in an investigation being carried out by certain authorities” in mainland China.

“The Company will duly cooperate and assist with any lawful request from the relevant PRC authorities, if and when made,” it added, referring to the country by its official name: the People’s Republic of China.

The firm did not provide further details about the nature of the investigation, nor did it reply to an AFP request for comment.

Shares in the company slumped as much as 50 percent at one point following the February 16 announcement that he was missing, before clawing back to sit at around 30 percent down.

While yet to recover from that slump, the firm was up 1.97 percent in early trading on Monday.

Powerhouse

China Renaissance has developed into a global financial institution since its founding in 2005, with more than 700 employees and offices in Beijing, Shanghai, Hong Kong, Singapore and New York.

The group has supervised the IPOs of several domestic tech giants, including leading e-commerce firm JD.com, as well as the 2015 merger between two of the country’s top ride-hailing apps.

That same year, Bao appeared on Bloomberg Market’s 50 Most Influential list, with the financial newswire writing the “fast-talking” banker had the ability to “arrange practically anything in China’s vibrant tech scene”.

But an aggressive crackdown on alleged corruption by President Xi Jinping has since clipped the wings of many of China’s leading financiers and major tech companies. 

According to financial news outlet Caixin, China Renaissance president Cong Lin was taken into custody last September as authorities launched a probe into his work at the financial leasing unit of state-owned bank ICBC.

And in 2017, Chinese-Canadian businessman Xiao Jianhua received a 13-year jail sentence under corruption charges last August.

Known to hold close ties to top Chinese Communist Party leaders, the billionaire was reportedly abducted from his Hong Kong hotel room by plainclothes police officers from Beijing.

At the time of his arrest, Xiao was one of China’s richest men, with an estimated fortune of $6 billion.

Alibaba founder Jack Ma has also seen his fortune fall by around half to an estimated $25 billion after regulators pulled the plug on what would have been the world’s biggest-ever IPO — that of fintech giant Ant Group.

A reshuffle of Ant’s shareholding structure announced in January saw Ma, who has since receded from public view, cede control of the megafirm he founded in 2014.

bur-oho/dva

You Might Also Like

The 20 Great Quotes of John McAfee

New Cold War Looms as Tariffs Shift from Trade to Politics

America Party: Terminal Debt Crisis and Elon Musk Buy $BTC

KXCO and the New World of Money

KXCO’s Position in Tokenized Cash and Cross-Border Payments

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Shayne Heffernan Ph.D.
Follow:
Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
Previous Article photo 2022 12 10 23 32 59 KXCO $FBX Update
Next Article Ukraine Crypto Donation Ukraine receives upwards of $70M in crypto donations since start of Russian invasion
Buy Bitcoin

Buy Bitcoin

Latest News

photo 2024 01 12 17 15 43
Bitcoin Might Be Bumpy BUY THE DIP
Bitcoin Featured Headline News KXCO Shayne Heffernan on Investments July 5, 2025
Hong Kong
Hong Kong is Back
Business China Crypto Featured Headline News Hong Kong Knightsbridge Insights KXCO Opinion Politics Shayne Heffernan Shayne Heffernan Shayne Heffernan on Investments July 3, 2025
photo 2023 12 10 22 43 50
China AI a Hot Sector $BABA $BIDU
AI Artificial Intelligence Asia China Featured Headline News Knightsbridge Insights KXCO Opinion Shayne Heffernan Shayne Heffernan on Investments July 2, 2025
elon musk 1
Elon Musk and Napoleon: Ambition, Power, and the Shadow of Exile
America Headline News Opinion Politics Shayne Heffernan July 1, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?