Reuters previously reported, citing sources, that authorities took Bao Fan away to assist in an investigation into former China Renaissance president Cong Lin.
BEIJING, China – China Renaissance Holdings said in an exchange filing on Sunday, February 26, that its missing chairman and star dealmaker Bao Fan was currently cooperating with relevant Chinese authorities conducting an investigation.
“The Board would like to reiterate that the business and operations of the Group are continuing normally,” the bank said in the exchange filing. In 2015 alone, at least five executives became unreachable without prior notice to their companies, including Fosun Group chairman Guo Guangchang, who Fosun later said was assisting with investigations regarding a personal matter.
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