China Renaissance Founder Bao Fan Remains in Custody

Bao Fan, the billionaire founder and chairman of private investment bank China Renaissance Holdings Ltd., remains in the custody of authorities for an investigation, six months after his disappearance sent jitters through the country’s financial market and corporate scene.

“Bao is still cooperating in the investigation carried out by certain authorities,” Hong Kong-traded China Renaissance said Wednesday in a filing. The company reiterated that its business and operations are continuing normally under the supervision of its executive committee.