Chinese billionaire banker Bao Fan, who had been missing for nearly a year, has officially resigned from all positions at China Renaissance Holdings, a financial advisory firm he founded in 2005. Health reasons and a desire to focus on family matters were cited as&nbsp;reasons by the bank for Bao Fan's resignation in its statement,&nbsp;reported BBC.

His abrupt disappearance in February 2023&nbsp;had sent shockwaves through China's business and investment circles, raising questions and concerns about his well-being and the circumstances surrounding the incident.

Shortly after Bao Fan went missing, China Renaissance said that it&nbsp;was cooperating with authorities conducting an investigation.

The firm, in its latest filing, stated that there was no disagreement between Bao and the board and that no other matters relating to his resignation needed to be disclosed to shareholders.

Notably the statement did not provide any information about Bao Fan's current whereabouts, leaving the mystery surrounding his disappearance unresolved.

<a href="https://www.wionews.com/world/no-bad-men-in-xis-rule-decoding-the-mystery-of-chinas-disappearing-ministers-639747">Also read |&nbsp;No 'bad men' in Xi's rule? Decoding the mystery of China's disappearing ministers</a>

<h2>Succession plan and Xie Yi Jing's Appointment</h2>

In light of Bao Fan's departure, Xie Yi Jing, the co-founder of China Renaissance, is set to assume his most senior roles within the firm.

The company expressed its commitment to maintaining continuity and stability, ensuring a smooth transition despite the unexpected change in leadership.

Bao Fan, one of China's most prominent bankers, boasted an impressive client list that included industry giants such as Tencent, Alibaba, and Baidu. His sudden absence drew attention not only for its mysterious nature but also due to the potential impact on the business landscape, given his influential role in facilitating financial dealings with major technology companies.

Bao Fan's disappearance occurred against the backdrop of a broader regulatory crackdown on leading technology companies by Chinese authorities.

Also watch |&nbsp;Mal'dives' in mess: Is Muizzu falling into a China trap? | WION Wideangle in mess: Is Muizzu falling into a China trap?&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/maldives-in-mess-is-muizzu-falling-into-a-china-trap-wion-wideangle-686194/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

This included the well-publicised three-month absence of Alibaba founder Jack Ma in late 2020, following critical comments about market regulators. Jack Ma's disappearance coincided with plans to publicly list his digital payments firm Ant Financial, a move that would likely have made him the richest man in China.

(With inputs from agencies)

Chinese billionaire banker Bao Fan, who had been missing for nearly a year, has officially resigned from all positions at China Renaissance Holdings, a financial advisory firm he founded in 2005.

Chinese billionaire banker Bao Fan, who had been missing for nearly a year, has officially resigned from all positions at China Renaissance Holdings, a financial advisory firm he founded in 2005. Health reasons and a desire to focus on family matters were cited as reasons by the bank for Bao Fan's resignation in its statement, reported BBC. His abrupt disappearance in February 2023 had sent shockwaves through China's business and investment circles, raising questions and concerns about his well-being and the circumstances surrounding the incident. Shortly after Bao Fan went missing, China Renaissance said that it was cooperating with authorities conducting an investigation. The firm, in its latest filing, stated that there was no disagreement between Bao and the board and that no other matters relating to his resignation needed to be disclosed to shareholders. Notably the statement did not provide any information about Bao Fan's current whereabouts, leaving the mystery surrounding his disappearance unresolved. Also read | No 'bad men' in Xi's rule? Decoding the mystery of China's disappearing ministers Succession plan and Xie Yi Jing's Appointment In light of Bao Fan's departure, Xie Yi Jing, the co-founder of China Renaissance, is set to assume his most senior roles within the firm. The company expressed its commitment to maintaining continuity and stability, ensuring a smooth transition despite the unexpected change in leadership. Bao Fan, one of China's most prominent bankers, boasted an impressive client list that included industry giants such as Tencent, Alibaba, and Baidu. His sudden absence drew attention not only for its mysterious nature but also due to the potential impact on the business landscape, given his influential role in facilitating financial dealings with major technology companies. Bao Fan's disappearance occurred against the backdrop of a broader regulatory crackdown on leading technology companies by Chinese authorities. Also watch | Mal'dives' in mess: Is Muizzu falling into a China trap? | WION Wideangle in mess: Is Muizzu falling into a China trap? This included the well-publicised three-month absence of Alibaba founder Jack Ma in late 2020, following critical comments about market regulators. Jack Ma's disappearance coincided with plans to publicly list his digital payments firm Ant Financial, a move that would likely have made him the richest man in China. (With inputs from agencies)

China: Banker Bao Fan, missing for a year, officially resigns from all roles at China Renaissance Holdings

Top Chinese banker Bao Fan, <a href="https://www.wionews.com/world/top-chinese-banker-bao-fan-goes-missing-sending-chills-down-nations-finance-industry-reports-562934">who was earlier reported to have disappeared</a>, is assisting Chinese investigators, his company China Renaissance Holdings Ltd said in a stock filing on Sunday (February 26). “The board has become aware that Mr Bao is currently cooperating in an investigation being carried out by certain authorities in the People’s Republic of China,” Bao's company said, the news agency Bloomberg reported.&nbsp;

China Renaissance Holdings Ltd further said that its business and operations were continuing normally and that it would “cooperate and assist with any lawful request” from the relevant Chinese authorities, if and when made.

Bao Fan's disappearance almost 10 days back, sent chills down China's finance industry. On February 17, his company's stock slid by 50% in early Hong Kong trading to hit a low of $0.64 (around HK$5), wiping off $356.7 million (HK$2.8 billion) in market value.

Before Fan, Seazen Group Ltd vice-chairman Qu Dejun was reported to have been unreachable. It was revealed that Dejun was cooperating with authorities concerning an investigation into the Dalian Wanda Group, where he previously worked.&nbsp;

For years, high-profile Chinese executives have gone missing with little explanation amid an anti-corruption campaign spearheaded by President Xi Jinping. A report by the news agency Reuters on Sunday said that in 2015 alone, &nbsp;at least five executives became unreachable without prior notice to their companies.&nbsp;

These included billionaire Guo Guangchang, the chairman of the Fosun Group. Guangchang had vanished from public view in connection with a probe by authorities, before re-emerging days later. His disappearance seemed to violate the trust between the government and top Chinese business leaders whose hard work fuelled China to become the world's second-largest economy.&nbsp;

Some of the major tycoons targeted under Xi Jinping's rule recently include Jack Ma, Xiao Jianhua and Mao Xiaofeng.&nbsp;

(With inputs from agencies)

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Top Chinese banker Bao Fan, who was earlier reported to have disappeared, is assisting Chinese investigators, his company China Renaissance Holdings Ltd said in a stock filing on Sunday (February 26).

Top Chinese banker Bao Fan, who was earlier reported to have disappeared, is assisting Chinese investigators, his company China Renaissance Holdings Ltd said in a stock filing on Sunday (February 26). “The board has become aware that Mr Bao is currently cooperating in an investigation being carried out by certain authorities in the People’s Republic of China,” Bao's company said, the news agency Bloomberg reported. China Renaissance Holdings Ltd further said that its business and operations were continuing normally and that it would “cooperate and assist with any lawful request” from the relevant Chinese authorities, if and when made. Bao Fan's disappearance almost 10 days back, sent chills down China's finance industry. On February 17, his company's stock slid by 50% in early Hong Kong trading to hit a low of $0.64 (around HK$5), wiping off $356.7 million (HK$2.8 billion) in market value. Before Fan, Seazen Group Ltd vice-chairman Qu Dejun was reported to have been unreachable. It was revealed that Dejun was cooperating with authorities concerning an investigation into the Dalian Wanda Group, where he previously worked. For years, high-profile Chinese executives have gone missing with little explanation amid an anti-corruption campaign spearheaded by President Xi Jinping. A report by the news agency Reuters on Sunday said that in 2015 alone, at least five executives became unreachable without prior notice to their companies. These included billionaire Guo Guangchang, the chairman of the Fosun Group. Guangchang had vanished from public view in connection with a probe by authorities, before re-emerging days later. His disappearance seemed to violate the trust between the government and top Chinese business leaders whose hard work fuelled China to become the world's second-largest economy. Some of the major tycoons targeted under Xi Jinping's rule recently include Jack Ma, Xiao Jianhua and Mao Xiaofeng. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Chinese banker Bao Fan, who earlier disappeared, is assisting investigators

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China: Banker Bao Fan, missing for a year, officially resigns from all roles at China Renaissance Holdings

Chinese banker Bao Fan, who earlier disappeared, is assisting investigators