Chinese investment banker Bao Fan released from detention after two years, source says

High-profile founder of China Renaissance Holdings freed as Beijing seeks to drive up business confidence

Bao Fan, star dealmaker and the founder of the boutique investment bank China Renaissance Holdings, has been released more than two years after being detained by Chinese authorities, according to a person with knowledge of the matter.

China Renaissance sent shock waves through the country's financial sector in 2023 when it announced it was unable to contact Bao, who founded the bank in 2005 with two others and still owns nearly 49% of its issued shares. The company's share price tanked as a result of his detention.