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.

  • AutoTL;DR@lemmings.worldBEnglish
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    5 months ago

    This is the best summary I could come up with:

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

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

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

    Mr Bao “has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders”, it added.

    In late 2020, Alibaba founder Jack Ma also disappeared from public view for three months, after making comments critical of market regulators.

    He had been due to publicly list his digital payments firm Ant Financial - which would have most likely made him the richest man in China.

    The original article contains 291 words, the summary contains 135 words. Saved 54%. I’m a bot and I’m open source!