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.
China Renaissance Holdings said in a filing to Hong Kong's stock exchange Thursday that it had been unable to contact Bao, who has worked on major deals including e-commerce company JD.com's $2 billion initial public offering and the public listing of short video platform Kuaishou in Hong Kong..
Bao's disappearance follows a crackdown on big technology companies in the past two years that officials in China said had been wrapped up. "I would like to stress that China is a country under rule of law, and the Chinese government protects the rights and interests of Chinese citizens in accordance with law," Wang said.
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