The chairman of boutique investment bank China Renaissance has resurfaced and is found to be assisting Chinese authorities in a probe, according to a filing.
Hong Kong-listed China Renaissance chairman and founder Bao Fan is «cooperating in an investigation carried out by certain authorities» in the mainland, according to a stock exchange filing on Sunday, without further elaborating.
Bao’s disappearance was first headlined eleven days ago when the boutique investment bank said it could not contact the chairman. This sparked concerns of a potential renewed crackdown on the financial or tech sector.
«The board would like to reiterate that the business and operations of [China Renaissance] are continuing normally,» the firm added.
China Renaissance was established in 2005 and currently has over 400 staff across Shanghai, Hong Kong and New York.
