High-profile tech banker Bao Fan, who was reported missing 11 days ago, is cooperating with Chinese authorities, his bank has said.

The Chinese billionaire, who is the founder and chief executive of China Renaissance Holdings, is “cooperating in an investigation”, the bank said in a statement. 

The announcement is the first time China Renaissance has given a reason for the disappearance of its founder – but it did not provide any details of Mr Bao’s whereabouts. 

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