Bao’s disappearance becomes the latest in a series of cases of high-profile Chinese executives going missing with little explanation – especially during a sweeping anti-corruption campaign spearheaded by President Xi Jinping.
In 2015 alone, at least five executives became unreachable without prior notice to their companies, including Fosun Group Chairman Guo Guangchang, who Fosun later said was assisting with investigations regarding a personal matter.
“The board is not aware of any information that indicates that Mr. Bao’s unavailability is or might be related to the business and or operations of the Group which is continuing normally,” the mainland China-based bank said in a late-Thursday filing.
China Renaissance stock slid by 50% in early trade to hit a record low of HK$5, wiping off HK$2.8 billion in market value. It regained some ground to be off by 28%. So far on Friday, 19.04 million China Renaissance shares have changed hands, the highest…