Missing Chinese CEO Bao Fan is being investigated by “certain authorities in the People’s Republic of China,” his company said in a statement Sunday.
China Renaissance Holdings Limited, of which Bao is the chairman and CEO, said the firm has been searching for him since the announcement he disappeared on February 16.
“The Board would like to reiterate that the business and operations of the Group are continuing normally,” a statement from the company said. “The Company will duly cooperate and assist with any lawful request from the relevant PRC authorities, if and when made.”
Bao is not the first business executive to go missing. Real estate mogul Ren Zhiqiang disappeared for several months after allegedly speaking out against Chinese leader Xi Jinping in 2020. He was then jailed for 18 years. Authorities reportedly detained Anbang chairman Wu Xiaohui as part of a government investigation. He, too, was eventually jailed for 18 years.
The company, an investment bank and private equity firm based in Beijing, added it is monitoring the situation and will release further statements “when appropriate.”
