Bao Fan is a Chinese billionaire tech banker who has gone missing

a close-up of the missing CEO of China Renaissance Holdings, Bao Fan

One of the most well-known billionaire bankers in China has vanished, according to his company.

The company stated in a market update on Thursday that Bao Fan, the CEO of China Renaissance Holdings, had not been reachable in recent days.

Top tech firms Didi and Meituan are among the clients of Mr. Bao, a well-known deal broker in China.

The announcement by his company has rekindled worries about a potential crackdown in Beijing on leaders in technology and finance.

Friday saw a sharp decline in the investment firm's stock after it informed shareholders that it had "been unable to contact Mr. Bao Fan.".

The board further stated that it was not aware of "any information indicating that Mr. Bao's non-availability is or might be related to the business and/or operations of the group.".

China Renaissance pointed the BBC to its notice to the Hong Kong Stock Exchange when prompted for additional comment.

The length of Mr. Bao's disappearance was not disclosed by the company. According to sources cited by the Chinese business newswire Caixin, staff had been unable to reach him for two days.

Cong Lin, the company's president, was reportedly detained by law enforcement last September due to his prior employment at the state-owned ICBC bank, according to the business wire.

The disappearance of Mr. Bao, one of China's top tech investors, has once again brought to mind instances in which Chinese executives vanished mysteriously for extended periods of time.

According to Forbes Magazine, at least six billionaires have vanished for extended periods of time in recent years following reported encounters with the Communist Party.

They may have been caught up in corruption, tax, or other misconduct investigations in a number of cases.

Guo Guangchang, the founder of the Fosun Group and the man dubbed the Warren Buffet of China, disappeared for several days in 2015.

Following remarks critical of market regulators, Alibaba founder Jack Ma vanished from view for three months in late 2020. He was scheduled to publicly list Ant Financial, a company that handles digital payments, which would have likely made him the richest man in China.

Mr. Bao is regarded as a key figure in China's tech sector due to his execution of some of the largest mergers, including those of the food delivery platforms Meituan and Dianping and the ride-hailing apps Didi and Kuaidi.

In 2005, he founded China Renaissance, which has since developed into a significant financial institution in China.

The bank served as the adviser for Didi's listing on the New York Stock Exchange in 2021 as well as the initial public offerings of the e-commerce sites and Kuashou.

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