Bao Fan's disappearance in February last year shocked China's business and investing community.

Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from all roles at his firm, China Renaissance Holdings.

He stepped down “for health reasons and to spend more time on his family affairs,” the bank said in a statement.

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 co-founder, Xie Yi Jing, will assume Mr Bao’s most senior roles.

  • Godric@lemmy.worldEnglish
    16·
    9 months ago

    I feel awful for the Chinese people suffocating under their government. People just “disappear” after the government takes interest. We only hear about this guy because he is very wealthy, imagine how many more “disappear” without a story.

  • AutoTL;DR@lemmings.worldBEnglish
    3·
    9 months ago

    This is the best summary I could come up with:

    Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from all roles at his firm, China Renaissance Holdings.

    Mr Bao’s unexplained disappearance in February last year shocked China’s business and investing community.

    In its latest filing, the company said co-founder, Xie Yi Jing, will assume Mr Bao’s most senior roles.

    Mr Bao “has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders”, it added.

    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.

    The original article contains 291 words, the summary contains 135 words. Saved 54%. I’m a bot and I’m open source!

  • Eldritch@lemmy.worldEnglish
    129·
    9 months ago

    Shady shit. Just ML things. People totally burn out, step down and go elsewhere for their health. But this sort of narrative only pops up in those supposed ML bastions of freedom etc. And we ONLY heard about this one because he was wealthy and visible. Thousands of others were very likely not as lucky.

      • Eldritch@lemmy.worldEnglish
        1010·
        9 months ago

        Marxist Leninist. You’ve been on Lemmy 8 months but not familiar with the term? Some people are lucky I guess.

        The Soviet Union, current China, North Korea, etc are all based in Marxist linenist thinking. None of them are communist. Not in any significant sense. And they are all common places for this sort of narrative. Although in Russia you tend to fall out of a high window onto bullets or exotic sometimes radioactive poisoning… Each one has their own flare they use to take out people who speak up or don’t toe the party line. In China disappearing and then mysteriously resigning etc while still being disappeared is their chosen method.

          • Eldritch@lemmy.worldEnglish
            6·
            9 months ago

            Marx is. Lenin who came along long after Marx was dead. Cobbled a bunch of authoritarian BS on top of it, often in outright contradiction. Isn’t in any significant fashion.

            Lenin’s intent as misguided as it was. Was to create a system to develop Russia’s economy to the point they could adopt communism. But not without another revolution to overthrow the monster he made.

          • ChicoSuave@lemmy.worldEnglish
            4·
            9 months ago

            Really it’s just Leninists using Marx to justify the “communism” while being central planning capitalists. Russians have no idea how to do anything except exert authoritarianism.