Bao Fan, Chinese Tech Billionaire Goes Missing

Web Desk — Bao Fan, the Chinese billionaire and chairman of investment bank China Renaissance has gone missing as shares in the company plunged in Hong Kong on Friday.

Bao Fan is also the executive director of the bank and is considered a major figure in the Chinese tech industry. He has played a key role in the emergence of various domestic internet startups.

According to an announcement by the China Renaissance, “The company has been unable to contact Mr. Bao,” without giving further details.

Caixin, a financial news outlet said the 52-year-old dealmaker had been unreachable for two days as of Thursday evening.

Bao’s disappearance has raised concerns over a possible renewed crackdown on China’s finance industry as President Xi Jinping persists in his long-standing fight against corruption.

China’s foreign ministry officials said they were not aware of the relevant information when asked about Bao’s disappearance.