released : 21 Feb 2023 at 10: 51 Fan Bao, creator and CEO of China Renaissance, at the WSJD Live conference in Laguna Beach California on Oct 25,2016 (File image: Reuters) NEW YORK: The disappearance of Chinese lender Bao Fan hasactually come as a surprise to even some of his state-owned loanproviders, anumberof of which are asking his company for more details as they evaluate their directexposure, according to individuals familiar with the matter. The advancement highlights how nontransparent the nation’s service and regulative landscape can be, even for gamers like state-owned banks with strong links to Chinese officialdom. Shanghai Pudong Development Bank Co, Bank of Communications Co, China Citic Bank Corp, and China Merchants Bank Co. are amongst lendinginstitutions that haveactually askedfor more information on Bao’s scenario as they examine the threats of loans and other company ties to his financialinvestment bank China Renaissance Holdings Ltd, the individuals stated, askingfor not to be called since the matter is personal. Some banks have likewise gottenintouchwith their own federalgovernment contacts over the past coupleof days to check the location of Bao, the individuals stated. Bao’s abrupt disappearance last week – mostlikely connected to a federalgovernment examination – has tense the nation’s organization elite. As chairman of China’s pre-eminent tech-focused financialinvestment bank, the veteran dealmaker has broad connections throughout numerous company sectors and hasactually been a go-to investor for some of the mostsignificant business. China Renaissance
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