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Tuesday, March 28, 2023

Who are the missing billionaires and what is behind them?

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In China, various citizens are missing. Among them, billionaires that on some occasion they questioned the decisions made by the Government within their territory. The scenario, which causes worldwide concern and terrorit becomes more and more mysterious.

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In detail, in recent months there have been a series of disappearances of high net worth Chinese who raised a alert about the security and stability of business in the country.

Some experts believe that these disappearances may be related to the repression of the authorities against corruption and financial regulation. For her part, the Xi Jinping management is taking strong measures against companies and entrepreneurs that do not comply with the rules and regulations.

However, others fear that these are the result of conflicts between businessmen and government officials or disputes between the same sector.

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Missing billionaires in China

Among the best known cases are: bao fanbanker and investor in the technology industry; guo guangchang, president of the Fosun International conglomerate; and the founder of Alibaba, Jack Ma.

Regarding the first case, the founder of the China Renaissance business group is considered a tech industry giant from the country. According to what is known, he disappeared for days before his company announced that he was “cooperating in an investigation being carried out by certain authorities of the People’s Republic of China.”

Bao Fan.jpeg

For now, it is not known which government agency is conducting the investigationwhat it is about or what is its whereabouts.

Importantly, this came in the run-up to the annual National People’s Assembly (APN), a parliament where policies and reforms are formalized, in which plans for the biggest overhaul of the regulatory system in years were announced this week. Chinese financial.

About guangchangwho known in the West for owning the English Premier League football clubWolverhampton Wanderers, he stopped showing signs of life in December 2015. Although his company announced after his reappearance that it had been helping with investigations.


The cases of the following men are also added to the list:

  • Ren Zhiqiang, who disappeared after calling Xi a “clown” for his handling of the pandemic
  • Xiao Jianhua, who was kidnapped from a luxury hotel in Hong Kong. The Chinese-Canadian businessman was one of the richest people in China and last year he was jailed for corruption.

global concern

The mystery about the business realm can have major unintended consequences.

“The danger for Beijing in targeting tech billionaires is that it is putting more pressure on tech entrepreneurs hoping to become the next Jack Ma”says Paul Triolo, head of China technology policy at global advisory firm Albright Stonebridge Group.

Faced with this scenario, the head of state called on private companies and entrepreneurs to “be rich and responsible, rich and fair, rich and loving.”

Source: Ambito

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