According to Foresight News, Bao Fan, the founder of China Renaissance, has resurfaced after being detained by authorities in February 2023. Multiple independent sources confirmed to Caixin that Bao has recently been released. On the same day, China Renaissance responded to Caixin, stating that Bao Fan is no longer involved in the daily management and operations of the group, and his personal life is considered private, with no further comments from the company.
China Renaissance's business operations remain normal, with the executive committee fully responsible for advancing the group's strategic initiatives. This year, the company plans to expand its Hong Kong Securities and Futures Commission licenses 1, 4, and 9 to include digital asset services, while increasing investments in Web3 and Real World Asset (RWA) infrastructure.
