Bao Fan's disappearance in February last year shocked China's business and investing community.

Chinese billionaire banker Bao Fan, who has been missing for almost a year, has resigned from all roles at his firm, China Renaissance Holdings.

He stepped down “for health reasons and to spend more time on his family affairs,” the bank said in a statement.

Mr Bao’s unexplained disappearance in February last year shocked China’s business and investing community.

Just days later, China Renaissance said he was cooperating with authorities who were conducting an investigation.

In its latest filing, the company said co-founder, Xie Yi Jing, will assume Mr Bao’s most senior roles.

    • @Eldritch@lemmy.worldEnglish
      1•10 months ago

      Marxist Leninist. You’ve been on Lemmy 8 months but not familiar with the term? Some people are lucky I guess.

      The Soviet Union, current China, North Korea, etc are all based in Marxist linenist thinking. None of them are communist. Not in any significant sense. And they are all common places for this sort of narrative. Although in Russia you tend to fall out of a high window onto bullets or exotic sometimes radioactive poisoning… Each one has their own flare they use to take out people who speak up or don’t toe the party line. In China disappearing and then mysteriously resigning etc while still being disappeared is their chosen method.

      • Nougat
        5•10 months ago

        Karl Marx: Writes the Communist Manifesto. Isn’t communist.

        ???

        • @Eldritch@lemmy.worldEnglish
          6•10 months ago

          Marx is. Lenin who came along long after Marx was dead. Cobbled a bunch of authoritarian BS on top of it, often in outright contradiction. Isn’t in any significant fashion.

          Lenin’s intent as misguided as it was. Was to create a system to develop Russia’s economy to the point they could adopt communism. But not without another revolution to overthrow the monster he made.

        • @ChicoSuave@lemmy.worldEnglish
          4•10 months ago

          Really it’s just Leninists using Marx to justify the “communism” while being central planning capitalists. Russians have no idea how to do anything except exert authoritarianism.