The Chinese billionaire Bao Fan, missing for more than a year, has surprisingly announced his retirement. Investment bank China Renaissance, whose founder and boss is Bao Fan, said he will resign from all his senior positions for reasons of health and family obligations.

Bao Fan, considered a major player in China's financial world, disappeared without a trace in February 2023 and was reported missing by the bank. Two weeks after he was reported, it was announced that he was cooperating with mainland Chinese authorities. Since then everything had become quiet around him.

Bao Fan supported new Internet companies in China with his bank

The Chinese investment bank founded by Bao Fan is based in Hong Kong and specializes in financing Internet startups. Bao Fan's bank has helped launch a number of Internet startups in China, including leading e-commerce company JD.com.

“t-online” reports that Bao Fan's sudden disappearance raised fears that the Beijing government could crack down on the financial industry again. In recent years, authorities have repeatedly attacked investors in China.

However, no information on whether Bao Fan was under investigation was provided in the stock announcement released on Friday. Therefore, it is not clear what is behind the sudden appearance and abrupt resignation of the Chinese banker.

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