Star Banker’s Disappearance Surprises Even China’s State Lenders
- China Renaissance had $1.1 billion of loans, credit facilities
- Bocom, Pudong Bank, CMB among lenders having asked for clarity
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The disappearance of Chinese banker Bao Fan has surprised even some of his state-owned lenders, several of which are asking his firm for more information as they assess their exposure, according to people familiar with the matter.
The development underscores how opaque the country’s business and regulatory landscape can be, even for players like state-owned banks with strong links to Chinese officialdom.