Bao Fan's disappearance in February last year shocked China's business and investing community.

Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from all roles at his firm, China Renaissance Holdings.

He stepped down “for health reasons and to spend more time on his family affairs,” the bank said in a statement.

Mr Bao’s unexplained disappearance in February last year shocked China’s business and investing community.

Just days later, China Renaissance said he was cooperating with authorities who were conducting an investigation.

In its latest filing, the company said co-founder, Xie Yi Jing, will assume Mr Bao’s most senior roles.

  • corus_kt@lemmy.world
    20·
    5 months ago

    Isn’t this like an evil being devoured by a greater evil? It’s not like the power and money is being returned to the people.

    • psycho_driver@lemmy.world
      17·
      5 months ago

      I know China is the boogie man, and truthfully they do some foul stuff, but if you look at their infrastructure improvements over the past 40 years I’d say they’re doing a hell of a lot more of returning wealth to the people than western societies.

      • corus_kt@lemmy.world
        10·
        5 months ago

        Elaborate on infrastructure improvements? China’s massive property crisis, ageing population, and government that is so iron fisted it gets offended by other countries existing and 64 as a sequence of numbers. Plus the leadership just elected itself extra terms. China is a sidegrade at best.