Bao Fan: After Jack died, Bao Fan is also missing! Chinese businessmen are leaving China for fear of investigation? –

Beijing-based investment bank and private equity firm Renaissance Bank said in a statement that they were unable to contact Bao Fan. Soon after, a report revealed that Bao Fan, chairman and CEO of China Renaissance, could not be found. Renaissance Bank said it had no information to suggest that Bao’s unavailability was linked to the company’s business.

The company’s share price fell 50 percent following the news. News of Bao Fan’s disappearance comes amid China’s anti-corruption probe that began in late 2021. The Chinese government has launched an anti-corruption probe targeting the $60 trillion financial sector.

Jack Ma, the founder of Ali Baba, has not been seen much in public at the moment. He has been largely absent since criticizing China’s financial regulators in Shanghai in October. Alibaba’s board recently decided that Jack Ma will no longer control the Chinese fintech giant. The firm’s shareholders decide that Jack Ma must also give up most of his voting rights.

Who is Bao Fan?

Bao Fan is one of the most famous investors in China today. Bao Fan began his investment banking career at Morgan Stanley and Credit Suisse in the late 1990s, and later worked as an advisor to the stock exchanges in Shanghai and Shenzhen. Bao started China Renaissance Bank in 2005.

Renaissance Bank primarily works to connect startups with venture capitalists and private equity investors. Later it expanded its services to multiple sectors including underwriting, sales and trading.

The investment bank made its Hong Kong debut in 2018 after raising USD 346 million in market capitalization. In addition, Bao Fan is also known for connecting two of China’s leading food delivery services, Meituan and Dianping, in 2015.

Leave a Comment