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☆ Missing Chinese Banker Resigns After Investigation
▼ + stars: | 2024-02-02 | by ( Claire Fu | More About Claire Fu | ) www.nytimes.com time to read: +1 min

After disappearing nearly a year ago as part of an investigation by Chinese authorities, prominent investment banker Bao Fan has resigned as chairman and chief executive of China Renaissance Holdings, the company said on Friday. Mr. Bao, a deal-making banker for Chinese internet giants Alibaba and Tencent, went missing last February. China Renaissance initially said it had lost contact with Mr. Bao before later stating that he was cooperating with an investigation being carried out by the authorities in China. It fueled concerns about the lengths that Chinese authorities would go to bring power players in the domestic economy to heel, while extending its control over its financial regulatory system. In a filing on the Hong Kong Stock Exchange, China Renaissance said Mr. Bao was stepping down because of “health reasons and to spend more time on his family affairs.” The company did not explain the nature of the investigation Mr. Bao was under.

Persons: Bao Fan, Bao Organizations: China Renaissance Holdings, China Renaissance, Hong Kong Stock Exchange Locations: Tencent, China

☆ Evergrande founder joins list of Chinese tycoons investigated, arrested
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +4 min

Following is a list of some other high-profile Chinese executives who have been investigated or arrested under Xi's leadership. BAO FAN, FOUNDER OF CHINA RENAISSANCEThe founder of China Renaissance Holdings (1911.HK) was detained in February and the investment bank said in August he was co-operating with authorities as investigations continued. Wu was arrested in June 2017 amid Beijing’s campaign to curtail big-spending conglomerates as it cracked down on financial risk. YE JIANMING, FOUNDER OF CEFC CHINA ENERGYIn 2017, Ye's CEFC agreed to buy a nearly $9.1 billion stake in Russian oil major Rosneft. A year later, he was investigated for suspected economic crimes and disappeared from public view in March 2018.

Persons: Hui Ka Yan, Xi Jinping, ZHAO WEIGUO, Tsinghua Unigroup, Zhao, Bao, Morgan Stanley, Didi, XIAO JIANHUA, Xiao, CHEN FENG, TAN XIANGDONG, GROUP, Tan, WU XIAOHUI, Wu, JIANMING, Ye's CEFC, magazine's, Kane Wu, Selena Li, Anne Marie Roantree, Miyoung Kim, Lincoln Organizations: HK, Evergrande, TSINGHUA UNIGROUP, Tsinghua University, Tsinghua, OF CHINA, China Renaissance Holdings, Credit Suisse Group, OF, China's Communist Party elite, Reuters, HNA, Hainan Airlines, Deutsche Bank, Hilton Worldwide, Prosecutors, Thomson Locations: China, Chinese, Guangdong, Shanghai, Hong Kong, Hainan, CHINA

☆ Nomura is merely first in line for new China risk
▼ + stars: | 2023-09-25 | by ( Una Galani | ) www.reuters.com time to read: +4 min

After all, Nomura is a minnow in China, ranking 82nd in investment banking in the country by net revenue in 2021, data from Dealogic shows. Like most of its more successful global investment banking peers, Nomura has an eye on deepening its business in China. It acquired a license for a majority-owned securities joint venture, Nomura Orient International Securities, in 2019. Follow @ugalani on TwitterCONTEXT NEWSAuthorities in China have barred Charles Wang Zhonghe, China investment banking chair at Nomura, from leaving the mainland, Reuters reported on Sept. 25 citing two sources with knowledge of the matter. Beijing’s investigation into Cong, former president of China Renaissance Holdings, resulted in the investment bank’s founder Bao being taken away by Chinese authorities in February.

Persons: Charles Wang Zhonghe, Nomura, Goldman Sachs, Morgan Stanley, Wang, Bao Fan, hasn’t, Xi Jinping, Banks, Cong Lin, Bao, Cong, Nomura’s Wang, Antony Currie, Oliver Taslic Organizations: Reuters, Financial Times, UBS, HK, China Securities, Nomura, Commercial Bank of China, China, Apple, Nomura Orient International Securities, Authorities, China Renaissance Holdings, ICBC, Commercial Bank of China Ltd, Thomson Locations: MUMBAI, China, Hong Kong, It’s, Singapore, People’s Republic

☆ China bans Nomura senior investment banker from leaving mainland — sources
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +3 min

Signage for Nomura Holdings Inc. displayed outside a Nomura Securities Co. branch in Tokyo, Japan, on Monday, April 24, 2023. Authorities in China have ordered a senior Nomura Holdings banker overseeing the firm's investment banking operations there not to leave the mainland, two sources with knowledge of the matter said. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong Organizations: Nomura Holdings Inc, Nomura Securities Co, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities Locations: Tokyo, Japan, China, Hong Kong, Beijing, Shanghai

☆ China bans Nomura senior investment banker from leaving mainland -sources
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +4 min

The logo of Nomura Securities is pictured at the company's Otemachi Head Office in Tokyo, Japan, November 18, 2016. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. Asked why the Nomura banker was barred from leaving, Chinese foreign ministry spokesperson Wang Wenbin said he did not have knowledge of the situation at a regular news briefing on Monday. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Toru Hanai, Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong, Selena Li, Kane Wu, Makiko Yamazaki, Liz Lee, Sumeet Chatterjee, Clarence Fernandez Organizations: Nomura Securities, REUTERS, Authorities, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, HK, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities, Thomson Locations: Tokyo, Japan, HONG KONG, China, Hong Kong, Beijing, Shanghai

☆ China Renaissance says detained chairman cooperating with authorities in probe
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Fan Bao, founder, Chairman and CEO of China Renaissance Group, an investment bank led by one of the country’s most famed rainmakers, holds a news conference on its IPO in Hong Kong, China September 13, 2018. REUTERS/Bobby Yip/File PhotoAug 9 (Reuters) - China Renaissance Holdings (1911.HK) said on Wednesday that investigations against its chairman Bao Fan by certain authorities were being carried out with his cooperation. The probe is the latest in a series of high-profile Chinese executives going missing with little explanation during a sweeping anti-corruption campaign spearheaded by President Xi Jinping. The disappearance of Bao in February saw shares of the investment bank plunge as much as 50% and led the bank to suspend trading in the stock from April. China Renaissance also said it would delay its audited annual results.

Persons: Bao, Bobby Yip, Bao Fan, Xi Jinping, Xie Yi Jing, Wang Lixing, Roushni Nair, Arun Koyyur Organizations: China Renaissance Group, REUTERS, China Renaissance Holdings, HK, Economic Observer, Thomson Locations: Hong Kong, China, Bengaluru

☆ China Renaissance chairman's detention extended by 3 months -report
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 31 (Reuters) - The detention of Bao Fan, chairman of investment bank China Renaissance Holdings (1911.HK), has been extended for another three months beginning May 7, Chinese financial publication Economic Observer reported on Wednesday, citing sources. Bao was taken away by disciplinary and supervision officials on February 7 and detained, the report said. China Renaissance did not immediately respond to a Reuters request for comment. Late in February, the bank said in an exchange filing that Bao, its star dealmaker, was co-operating with authorities in their investigation. Bao's disappearance in February saw shares in the investment bank plunge as much as 50%.

Persons: Bao Fan, Bao, Didi, Kuaidi, Andrew Heavens, Jason Neely Organizations: China Renaissance Holdings, HK, Central Commission, Beijing, Thomson Locations: BEIJING, Beijing, China

☆ China Renaissance delays results, halts trade citing star dealmaker's disappearance
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: +1 min

Late in February 2023, China Renaissance said in an exchange filing that Bao Fan, its star dealmaker, was co-operating with authorities in their investigation. Boutique investment bank China Renaissance Holdings said it would delay its audited annual results and suspend its stock trading from Monday, after mainland authorities took away its chairman, Bao Fan, to co-operate with an investigation. "While the company has used its best efforts to facilitate the requests of the auditors," those requests are not matters within the control of China Renaissance, the bank said in the filing, adding that the board "was not able to reasonably estimate when it would meet to approve" the 2022 annual results. Bao, who is also CEO, started the bank in 2005 with a two-person team, seeking to match capital-hungry startups with venture capitalist and private equity investors. The bank had an unaudited loss of 563.8 million yuan ($81.8 million) for 2022, compared with 1.6 billion yuan worth of net income for the year earlier, Sunday's filing showed.

Fan Bao, founder of China Renaissance Holdings, was detained last month by antigraft investigators. Chinese financier Fan Bao , who went missing last month, has been detained by authorities in mainland China in connection with a corruption investigation targeting a former senior executive at the investment bank he founded, according to people familiar with the matter. The investment bank, China Renaissance Holdings Ltd., disclosed on Feb. 16 that it had been unable to contact Mr. Bao, who serves as the bank’s chairman and chief executive. On Sunday, it said in a regulatory filing that it had since discovered Mr. Bao is aiding an investigation being carried out by authorities in China, which it didn’t name.

☆ Missing Chinese CEO is being investigated by authorities, company says
▼ + stars: | 2023-02-26 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Missing Chinese CEO Bao Fan is cooperating in an investigation by “certain authorities in the People’s Republic of China,” his company said in a statement Sunday. “The Board would like to reiterate that the business and operations of the Group are continuing normally,” a statement from the company said. Real estate tycoon Ren Zhiqiang disappeared for several months after he allegedly spoke out against Chinese leader Xi Jinping in 2020. Anbang chairman Wu Xiaohui was reportedly detained by authorities as part of a government investigation. His team has also invested in US-listed Chinese electric vehicle makers Nio (NIO) and Li Auto, and helped Chinese internet giants Baidu (BIDU) and JD.com (JD) complete their secondary listings in Hong Kong.

☆ Chinese bank says missing chairman is cooperating with Chinese authorities in an investigation
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Feb 26 (Reuters) - China Renaissance Holdings (1911.HK) said in an exchange filing on Sunday that its missing chairman and star dealmaker Bao Fan was currently cooperating with relevant Chinese authorities conducting an investigation. This is the first time the mainland China-based boutique bank has given a reason for the disappearance of its founder -- who was reported missing 10 days ago -- though no details about the investigation were shared. "The Board would like to reiterate that the business and operations of the Group are continuing normally," the bank said in the exchange filing. 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. read moreBao's disappearance also comes against the backdrop of more than two years of sweeping regulatory crackdown on technology companies.

Though the reasons for Bao's disappearance are unclear, his case follows a series of incidents in which high-profile executives in China have gone missing with little explanation during a sweeping anti-corruption campaign spearheaded by President Xi Jinping. China Renaissance said on Thursday in a stock exchange filing that it had no information that Bao's "unavailability" was related to its business, and that its operations were continuing normally. A spokesperson for Beijing-based China Renaissance declined to comment on specific details and referred Reuters to its exchange filing made on Thursday. "What happened to China Renaissance highlighted the key man risk with some Chinese companies," Li Nan, professor of Finance at Shanghai Jiaotong University, said. key man risk generally refers to the threat posed to a company from over-reliance on a limited number of personnel for decision making.

☆ Factbox: Chinese business tycoons, executives who disappeared from public view
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +5 min

Following is a list of some other high-profile Chinese executives who have abruptly gone missing from public view in recent years. Three months later, On Nov. 27, the company said Yang had resumed his duties after assisting an investigation in China. Shares and bonds related to CEFC China Energy plunged on the news, which was first reported by Chinese magazine Caixin. Chinese financial regulators in 2020 took over brokerages, trust companies and insurers linked to the group. Reporting by Brenda Goh and Xie Yu; Editing by Sumeet Chatterjee and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Feb 17 (Reuters) - Chinese dealmaker Bao Fan, founder of investment bank China Renaissance Holdings Ltd (1911.HK), has gone missing in the latest disappearance of a top business executive, unnerving investors and sending its stock down as much as 50% on Friday. A China Renaissance spokesperson referred Reuters request for comment on Friday to the investment bank's public filing. The firm earned $20.6 million in Chinese related investment banking fees in 2022, down from $43.13 million a year earlier, the data showed. Bao started China Renaissance in 2005 as a two-person team, seeking to match capital-hungry startups with venture capitalist and private equity investors. China Renaissance is also an active investor in the tech sector.

☆ Factbox-Five facts about missing star Chinese dealmaker and his firm
▼ + stars: | 2023-02-18 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

HONG KONG (Reuters) - Well-known Chinese dealmaker Bao Fan, founder of investment bank China Renaissance Holdings Ltd, has gone missing in the latest disappearance of a top business executive in the country, unnerving investors. FILE PHOTO: Fan Bao founder and CEO of China Renaissance speaks at the WSJD Live conference in Laguna Beach, California October 25, 2016. Here are five facts about Bao and his firm --* Bao entered China’s prestigious Fudan University in 1989, and later received his master’s degree from the BI Norwegian School of Management. Its investment management business has assets worth around 48.6 billion yuan by the end of last June. It earned $20.6 million in Chinese related investment banking fees in 2022, down from $43.13 million a year earlier.

☆ Factbox: Five facts about missing star Chinese dealmaker and his firm
▼ + stars: | 2023-02-18 | by ( Xie Yu | ) www.reuters.com time to read: +2 min

HONG KONG, Feb 18 (Reuters) - Well-known Chinese dealmaker Bao Fan, founder of investment bank China Renaissance Holdings Ltd (1911.HK), has gone missing in the latest disappearance of a top business executive in the country, unnerving investors. Here are five facts about Bao and his firm --* Bao entered China's prestigious Fudan University in 1989, and later received his master's degree from the BI Norwegian School of Management. Its investment management business has assets worth around 48.6 billion yuan by the end of last June. * The firm is currently ranked ninth on China's equity capital markets league table for 2023, according to Refinitiv. It earned $20.6 million in Chinese related investment banking fees in 2022, down from $43.13 million a year earlier.

☆ China Renaissance Seeks to Assure Clients After CEO’s Disappearance
▼ + stars: | 2023-02-17 | by ( Rebecca Feng | ) www.wsj.com time to read: 1 min

China Renaissance Holdings Ltd. on Friday asked its employees to reassure clients and quash speculation after the disappearance of Fan Bao—a prominent banker who has been synonymous with the Chinese investment bank. Mr. Bao, a Wall Street veteran who co-founded China Renaissance in 2005, built the firm into a powerhouse in China’s technology sector, handling mergers and acquisitions, private placements and public listings of many companies. The firm said on Thursday that Mr. Bao, who is its chairman and chief executive, has been unreachable, and that it didn’t know of any business reason why.

SYDNEY, Feb 17 (Reuters) - Shares of boutique investment bank China Renaissance Holdings Ltd (1911.HK) fell by as much as 50% on Friday after the firm said it had been unable to contact Chairman and Chief Executive Bao Fan. China Renaissance shares slid by 50% in early trade to hit a record low of HK$5 each. He started China Renaissance in 2005 and the exchange filing showed he is its controlling shareholder. China Renaissance was listed on the Hong Kong Stock Exchange in 2018 after it raised $346 million. China Renaissance is also an active investor in the tech sector.

☆ China Renaissance shares plunge more than 20% after it says founder Bao Fan is missing
▼ + stars: | 2023-02-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Bao Fan, founder and chief executive officer of China Renaissance, speaks at a conference in California in 2016. BEIJING — Prominent Chinese investment banker Bao Fan is missing, his company China Renaissance Holdings said late Thursday. China Renaissance said it "has been unable to contact Mr. Bao Fan," according to a filing with the Hong Kong stock exchange. Bao is the firm's controlling shareholder, as well as chairman, executive director and CEO. Shares of China Renaissance plunged by more than 20% in Hong Kong trading Friday.

☆ Well-Known Chinese Financier Is Unreachable, His Firm Says
▼ + stars: | 2023-02-16 | by ( James T. Areddy | ) www.wsj.com time to read: 1 min

Fan Bao raised his profile speaking at international financial conferences such as a Wall Street Journal technology gathering in Laguna Beach, Calif., in 2016. A high-profile Chinese fund manager and investment banker, Fan Bao, is unreachable, according to the financial firm he controls and leads as chairman, China Renaissance Holdings Ltd.China Renaissance shed no light on Mr. Bao’s situation, saying only that it has been unable to contact him.

☆ China's property prices to rise in 2023, sales to fall more slowly
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +3 min

"Property measures are expected to strengthen support, which will improve residents' confidence." A recent slew of support measures, including loan repayment extensions, aimed at improving liquidity in the property sector has underpinned market sentiment. But analysts and economists in the poll expected concerns about falling house prices, protracted COVID restrictions, and delays in construction to continue to weigh on demand. Property sales were seen slumping 5.0% in the first half of 2023, a smaller drop than the 15.0% fall forecast in the September poll. Some analysts say average house prices will need to fall by around 20% to 30% to entice demand.

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