China’s billionaire banker quits all positions after getting missing

Chinese billionaire banker Bao Fan, who has been gone for almost a year, has quit all his jobs at his company, China Renaissance Holdings.

“He resigned because of his health and to spend more time with his family,” the bank said in a statement.

Last year in February, Mr. Bao disappeared and this surprised China’s business and investing community.

A few days after, China Renaissance announced that they were working with the authorities who were doing an investigation.

In the new document, the company announced that co-founder Xie Yi Jing will take over Mr. Bao’s top positions.

Mr Bao is not arguing with the Board and there is nothing else about his resignation that the shareholders need to know.

However, it didn’t say where Mr Bao Fan is.

He was a very important banker in China, and he worked with big internet companies like Tencent, Alibaba, and Baidu.

In February, China Renaissance said: “The board found out that Mr. Bao is helping with an investigation by authorities in China. ”

The company will help the Chinese authorities if they ask for it.

This was the first time China Renaissance said why its founder disappeared.

He went missing while the Chinese government was taking strong action against big technology companies.

In the end of 2020, Jack Ma, who started Alibaba, was not seen in public for three months. He had said some negative things about market regulators before this happened. He was supposed to make his digital payments firm Ant Financial go public, which would have probably made him the richest man in China.