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Troubled investment bank China Renaissance suspends share trading

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BEIJING, April 3 — Investment bank China Renaissance suspended trading in its Hong Kong-listed shares today, saying the disappearance of its chairman meant it was unable to...

BEIJING, April 3 — Investment bank China Renaissance suspended trading in its Hong Kong-listed shares today, saying the disappearance of its chairman meant it was unable to publish its annual results.

The bank, which specialises in the Chinese tech industry, announced yesterday that Bao’s absence made it impossible to publish its audited 2022 results. Chinese authorities have not given any details on Bao’s detention or the reasons for the investigation. Bao is not the first high-profile Chinese financier to fall foul of the authorities in recent years, with President Xi Jinping leading an aggressive crackdown on alleged corruption.

 

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