The New York TimesThe New York Times

China's tech rainmaker vanishes, and so does business confidence

By Li Yuan

23 Feb 2023 · 5 min read

Editor's Note

One of China's well-known dealmaker, Bao Fan, has mysteriously disappeared, thereby reigniting concerns about China's heavy handedness with business icons, reports The New York Times.

On Valentine’s Day in 2015, two of China’s biggest ride-hailing startups, one backed by the tech giant Alibaba and the other by Tencent, announced they would merge after burning through hundreds of millions of dollars in a price war. Brokering the deal, while managing the egos of combative founders and investors was Bao Fan, the rainmaker of China’s tech industry.

His company, the investment bank China Renaissance, went on to advise and invest in many of China’s most successful tech companies, taking them public in Hong Kong and New York.

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