Chinese tech extremely rich person disappears: organization

Friday Feb 17 2023

The Chinese tycoon head of venture capital bank China Renaissance has disappeared, the firm said, as bids for the organization poured in on Friday in Hong Kong.

Bao Fan, who is also the bank's chief supervisor, is a prominent figure in China's technology industry, and the games have been instrumental in the development of various domestic web start-ups.

"The organization has not been able to contact Mr. Bao," China Renaissance said in a statement to the Hong Kong Stock Trade, without offering further details.

The company's shares fell as much as 30% after the explanation.

The 52-year-old trader was unavailable for two days starting on Thursday night, according to Caixin, a money media source.

China Renaissance was not immediately available for entry when contacted by AFP.

Founded in 2005, the assembly has regulated the initial public offerings of several domestic web giants, including the management of online commerce firm JD.com.

Bao also worked on the successful 2015 consolidation between the major equestrian company Didi and its biggest rival Kuaidi Dache.

The China Renaissance example is an example of recent surveys of the country's top lenders.

In 2017, Chinese-Canadian financial manager Xiao Jianhua was captured by specialists from the Central Region and received a 13-year prison sentence last August on embezzlement charges.

An extremely wealthy man known to have close ties to leading figures in China's socialist faction was reportedly snatched from his Hong Kong accommodation by plainclothes police officers from Beijing.

At the time of his capture, Xiao was perhaps the most extravagant man in China, with an estimated fortune of $6 billion.

According to Caixin, China Renaissance president Cong Lin was arrested last September when specialists sent a test to his work at the money-lending unit of state-owned bank ICBC.