Banking tycoon Bao Fan steps down as head of China Renaissance

By Agence France-Presse

Feb 03, 2024 12:07 am

BEIJING: Billionaire financier Bao Fan has stepped down as head of investment bank China Renaissance, the company said on Friday, almost a year after he was revealed to be cooperating in an investigation by authorities.

Bao rose to fame as a key player in the emergence of some of the country's biggest tech giants, supervising blockbuster IPOs and the landmark 2015 merger between ride-hailing giant Didi and its top competitor at the time, Kuaidi Dache.

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