Mr Bao’s unexplained disappearance in February last year shocked China’s business and investing community. Just days later, China Renaissance said he was cooperating with authorities who were conducting an investigation. In its latest filing, the company said its co-founder, Xie Yi Jing, will assume Mr Bao’s duties. In late 2020, Alibaba founder Jack Ma also disappeared from public view for three months, after making comments critical of market regulators. He had been due to publicly list his digital payments firm Ant Financial – which would have most likely made him the richest man in China. Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from his financial firm, China Renaissance Holdings Ltd. What is the importance of Chinese crackdown on techpreneurs ?
