Missing China billionaire banker returns to resign

Bao Fan, the Chinese billionaire banker who has been missing for nearly a year, has officially resigned from his position at China Renaissance Holdings Ltd., a financial firm.

The bank stated that his resignation was attributed to “health reasons and to spend more time on his family affairs.” Bao’s mysterious disappearance in February of the previous year had sent shockwaves through China’s business and investment circles. Shortly afterwards, China Renaissance announced he was working with authorities during an ongoing investigation.

In the latest company filing, it was disclosed that Xie Yi Jing, the co-founder, would take over Bao’s responsibilities. The statement clarified that Bao had no disputes with the board, and there were no other issues related to his resignation that required attention from shareholders. However, details regarding Bao’s current location were not provided.

Known as one of China’s prominent bankers, Bao served a distinguished clientele, including internet giants Tencent, Alibaba, and Baidu.