| The disappearance of high-profile banker Bao Fan is fuelling speculation of a renewed clampdown on China’s finance industry.
Former China Renaissance president Cong Lin has been involved in an investigation by authorities since September, the source said, asking not to be named. A China Renaissance spokesperson in New York declined to comment about Mr Bao when reached by phone. The firm didn’t immediately respond to an emailed request for comment on Cong on Friday. Chinese news website Caixin first reported Mr Bao’s absence.
Mr Bao, a former banker at Morgan Stanley and Credit Suisse Group, made a name for being able to broker difficult mergers and acquisitions, including ones that led to the formation of Didi Global and Meituan.China Renaissance itself is also an active investor, backing many tech companies that have grown to giants including NIO and WuXi AppTec, according to its website.