Missing China tech billionaire ‘cooperating’ in investigation: company

The logo for China Renaissance is seen on the side of an office building in Beijing, Friday, Feb. 17, 2023. Shares of the company that operates one of China's top investment banks, China Renaissance, plunged Friday after the firm said it had lost touch with its founder Bao Fan, one of the country's most high-profile bankers and a top tech-sector dealmaker. (AP Photo/Mark Schiefelbein)

BEIJING: The missing billionaire chairman of investment bank China Renaissance is currently “cooperating” with an investigation by authorities, his company said, after his disappearance sparked fears of a renewed crackdown on the country’s finance sector.

Last week’s disappearance of Bao Fan – a major figure in the Chinese tech industry and a key player in the emergence of various domestic internet startups – sent his company’s share price plunging.