Chinese tech banker Bao Fan is “assisting the government.” Alibaba founder Jack Ma hops from country to country. Is China’s tech crackdown really over?
Bao isn’t the only China Renaissance executive to vanish under mysterious circumstances.
After an early career with Morgan Stanley and Credit Suisse, Bao saw his influence through China Renaissance skyrocket along with the tech boom. He became a mainstay of the tech scene that grew up in Hangzhou, the storied playground of billion-dollar start-ups and venture investors that birthed giants like Alibaba.
at an estimated $1.7 billion, said in a 2016 interview with GQ China. “Is Baidu going to be the next Google today? No. Does Xiaomi want to be China’s Apple? No,” Bao told GQ. “A truly great company is defined by itself, not by others.”Li Hejun became the richest person in China in 2015 after his solar cell firm Hanergy’s blockbuster Hong Kong IPO. But later that year, Hanergy’s shares took a record dive, and in 2019 it was delisted from the Hong Kong Stock Exchange.
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