this post was submitted on 02 Feb 2024
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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.

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[–] ChicoSuave@lemmy.world 4 points 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.