A Number Of Businessmen Go Missing In A Alleged Anti-Corruption Drive By The Chinese Government
January 11th, 2016
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How much surprised you would be if some of the leading business men in India go missing without any warning or trace only to re-appear later. This is a reality in China where some of the leading businessmen have suddenly disappeared whilst some have re-appeared later and the fate of the rest is unknown yet.
What has been the reason behind the disappearance?
According to unconfirmed media reports in China, it is part of a government’s anti-corruption drive targeting the financial sector. As part of the anti-corruption drive the police have picked up some of the leading businessmen of China without prior notice or media briefing. The sudden disappearances have often caused stock markets to shed its value. The effects of the reverberations in the Chinese stocks markets are felt across stock market in the world and more particularly in Asia.
Who are the businessmen who have gone missing?
1.) Zhou Chengjian
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Zhou Chengjian owns one of China’s biggest fashion chains Metersbonwe was reported to have picked up by Beijing’s police. He is the 62nd richest person in China with wealth amounting to 4.1 billion dollars. After the confirmation of the disappearance of Mr Xhou Chengjian, his company Metersbonwe suspended trading in its share over his unaccounted absence.
2.) Guo Guangchang
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He is also known as China’s Warren Buffet and had temporarily gone missing this year. He is the chairman of Fosun International with interest spanning media, insurance, real estate and retail. The company had also recently taken control of French holiday group Club Med in a deal worth about 1 billion dollar. He made his appearance after a few days to a thunderous reception from the board and his company executives.
Some of the others who went missing include Yim Fung, the head of Guotai Securities and Mr Guo, the head of Chinese business magazine Caixin.
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None of the people who have returned have spoken about their disappearance, incarceration or investigation. The suspense prolongs and deepens as more executives continue to disappear.