Source: Bloomberg
Author: PEI YI MAK, Cathy Chan, Diana Li, Chen Lulu
There is a brilliant years of a billionaire in China in China every two days. Bao Fan, the "rainman" of the banking industry, almost among this level.
He provides suggestions for technological giants such as Alibaba to make him one of the most popular financialists in China. He has accumulated more than $ 800 million (S $ 1. S $ 1. S $ 1. S $ 1. S $ 1. S $ 1. S $ 1044 billion) by holding Huaxing Capital.
In last year's rectification operation, he was left -haired and disappeared from the public vision, and his career collapsed.Huaxing Capital's stock resumed trading on Monday 17 months after the suspension was suspended. The stock price plummeted, and the extent of the abroad of his wealth avalanche was also at a glance.According to the calculation of the documents and Bloomberg Billionaire Index, his shareholding is now worth $ 55 million, a 93%decrease from the peak in February 2021.
When Bloomberg contacted Huaxing Capital spokesman, the spokesman did not immediately comment.
Bao Fan suddenly settled a shadow for the Chinese financial industry. As China promotes "common prosperity", this industry often becomes aims to be the goal.In 2023, the anti -corruption survey in the financial industry has led to the steps down of more than 100 officials and senior companies. Blockers are facing salary reduction and clothing diet."
Alicia Garcia Herrero, chief economist in the Asia -Pacific region of French Foreign Trade Bank, said all these financial circle stars -some of them are not even stars -the reasons for being separated are unknown and indeed helpless capital to return to China.
Remediation and job loss forced bankers to re -consider their careers. When China turns to high -end manufacturing and renewable energy sources, China has gradually drifted away from the financial and real estate fields that have promoted China's economic development over the decades.Adjustable.
In response to such a large adjustment, 53 -year -old Bao Fan is one of the most striking losers.Through the difficult mergers and acquisitions, it has promoted the establishment of Didi Global and the Food Takeaway Giant Meituan, and Huaxing Capital has risen.
He is good at discovering the star of technology, which has made him one of the most influential bankers in China. He also persuaded Billionaire Ma Yun to become the cornerstone investor when Huaxing Capital was listed in 2018.
When Bao Fan was kept in February last February, the embankment began to collapse without any official explanation.Huaxing Capital only said that it was unable to contact Bao Fan for the time being.Later, in the wider anti -corruption actions against the financial industry, Bao Fan was separated for an unsuspecting survey.Earlier this year, according to the company's statement, "due to health reasons and hopes to consider more time to handle family affairs", Bao Fan resigned as the chairman of the board of directors and chief executives.
