Bao Fan Wiki – Bio
Bao Fan,53, one of China’s highest-profile investment bankers known for overseeing mergers involving tech giants Didi and Meituan, has disappeared, according to the investment bank he founded.
China Renaissance Holdings Ltd said in a filing with the Hong Kong stock exchange on Thursday that the company has been unable to contact the billionaire investment banker. The board is not aware of any information indicating that Mr. Bao’s unavailability is or could be related to the business and/or group operations continuing as normal,” China Renaissance, in which Bao has a nearly 50 percent. he said in the statement.
Bao has not shown up at his office and has not been available for two days, China-based financial news outlet Caixin reported on Thursday. Caixin also reported that Cong Lin, the chairman of China Renaissance, has been under investigation by authorities for months.
Bao Fan is 53 years old.
Chinese tech banker billionaire Bao Fan disappears
Bao’s family has been told he is assisting in an investigation, Bloomberg News reported, citing a person familiar with the matter. Bao is among the most prominent dealmakers on China’s tech scene, having overseen links between ride-sharing giants Didi and Kuaidi and food delivery platforms Meituan and Dianping.
Bao, who began his career as an M&A banker at Morgan Stanley, founded China Renaissance in 2005. China Renaissance was listed on the Hong Kong stock exchange in 2018 and has invested in high-profile Chinese startups such as electric car maker NIO, as well as providing advisory services.
Chinese-Canadian billionaire Xiao Jianhua disappeared in Hong Kong in 2017
It’s not uncommon for business executives to go missing in China, where authorities can detain suspects for months or even years without charge or access to legal representation. Chinese-Canadian billionaire Xiao Jianhua disappeared in Hong Kong in 2017 before resurfacing in mainland China five years later to face corruption charges. Xiao, who was taken from his Hong Kong hotel by people believed to be mainland Chinese security agents, was sentenced in August to 13 years in prison for financial crimes, including illegal use of funds and bribery.
Yim Fung, the head of Chinese broker Guotai Junan International, disappeared for more than a month in 2015 before returning to his firm after “assisting in certain investigations.” Jack Ma, the founder of tech giant Alibaba, withdrew from the public for a year after making critical comments about China’s financial regulators before reappearing in public in late 2021. Since he came to power in 2012, Chinese President Xi Jinping has led a sweeping anti-corruption campaign that has ensnared tens of thousands of officials and businessmen. Critics say Xi, who has consolidated power more than any Chinese leader since Mao Zedong, has used the anti-corruption drive as a thinly veiled ploy to purge political rivals.
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