The well-known Chinese banker bao fanwho mysteriously disappeared more than ten days ago, is “cooperating in an investigation” carried out by the regime of the Asian countryrevealed on Sunday night the investment bank of which he is the founder, China Renaissance.
In a communication sent to the Hong Kong Stock Exchangewhere it is listed, the company only indicates that “it has learned that Mr. Bao is currently collaborating with an investigation being carried out by some authorities in the People’s Republic of China.”
China Renaissance, which had reported Bao’s disappearance on February 16, ensures that its operations continue “as normal”.
“The company will duly cooperate and assist with any legal requests from the relevant authorities in the PRC, if any,” he added, referring to China by its official name, the PRC.
This new statement seems to confirm the thesis offered by some media that pointed out that Bao’s situation was similar to those that occurred in 2015, when at least five executives from different companies disappeared in a similar way, among which the president of the Fosun conglomerate, Guo, stood out. Guangchang, which was later revealed to be collaborating with the authorities in an investigation.
The country’s economic press has speculated in recent days about the possibility that the event could be related to an investigation launched by the authorities against Cong Lin, former president of China Renaissance, on account of his years as director of the largest state-owned bank in the country. , ICBC.
Bao, known for being the ‘architect’ of some of the country’s biggest technology company mergers, would have tried to move part of his fortune from China and Hong Kong to Singapore, territory where at the end of last year he tried to create a fund to manage his assets, according to the Financial Times newspaper.
Earlier this week, the Communist Party of China’s (CPC) powerful anti-corruption body, the Central Commission for Discipline Inspection (CCID), vowed to strengthen its campaign against wrongdoing in the financial sector.
The disappearance last week of Bao Fan, one of the main figures in the Chinese technology sector and a key player in the creation of several Internet start-ups, caused his company’s stock price to plummet.
The economic news portal Caixin He recalled that this campaign, active for years, has resulted in the accusation of numerous officials from regulatory bodies and senior business executives.
(With information from EFE and AFP)
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