Key takeaways:
- Ren Zhiqiang is a well-known real estate tycoon in China and has been missing for 10 days.
- China Renaissance Holdings has released a statement regarding his whereabouts, saying that Bao Fan, its missing chairman and star dealmaker, is currently cooperating with relevant Chinese authorities conducting an investigation.
- The investigation is still ongoing, and the company has not yet released any further information regarding the investigation or the whereabouts of Ren Zhiqiang.
Renowned real estate tycoon Ren Zhiqiang has been missing for 10 days, and his company, China Renaissance Holdings, has now released a statement regarding his whereabouts.
The company said in an exchange filing on Sunday that its missing chairman and star dealmaker Bao Fan is currently cooperating with relevant Chinese authorities conducting an investigation.
The statement from the company said, “The Board would like to reiterate that the business and operations of the Group are continuing normally.”
This is the first time the mainland China-based boutique bank has given a reason for the disappearance of its founder, though no details about the investigation were shared.
Reuters previously reported, citing sources, that authorities took Bao away earlier this month to assist in an investigation into a former colleague, Cong Lin, the company’s former president.
The company said in the statement, “The Company will duly cooperate and assist with any lawful request from the relevant PRC authorities, if and when made.”
Ren Zhiqiang is a well-known real estate tycoon in China and has been missing for 10 days. His company, China Renaissance Holdings, has now released a statement regarding his whereabouts. The company said that Bao Fan, its missing chairman and star dealmaker, is currently cooperating with relevant Chinese authorities conducting an investigation.
The statement from the company said, “The Board would like to reiterate that the business and operations of the Group are continuing normally.” This is the first time the mainland China-based boutique bank has given a reason for the disappearance of its founder, though no details about the investigation were shared.
Reuters previously reported, citing sources, that authorities took Bao away earlier this month to assist in an investigation into a former colleague, Cong Lin, the company’s former president. The company said in the statement, “The Company will duly cooperate and assist with any lawful request from the relevant PRC authorities, if and when made.”
The investigation is still ongoing, and the company has not yet released any further information regarding the investigation or the whereabouts of Ren Zhiqiang. It is unclear how long the investigation will take or when Ren Zhiqiang will be released.
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