China Renaissance
华兴资本
China Renaissance is an investment bank founded and led by Bao Fan, who built it from a financial advisory boutique into a full-service institution spanning investment banking, asset management and securities . The firm made its name in China's new-economy dealmaking — most notably orchestrating the 2015 merger wave that combined Didi and Kuaidi, 58.com and Ganji, Meituan and Dianping, and Ctrip with Qunar . By the time of its 2018 Hong Kong IPO, Bao Fan had structured the firm around three pillars: investment banking, investment management and Huajing Securities (华菁证券), with licenses for US, Hong Kong and mainland China markets .
The bank's investment arm scored prominent wins in Pop Mart and Zhipu AI, among other new-economy names . But its trajectory was thrown into uncertainty when Bao Fan disappeared in February 2023 and was subsequently placed under investigation by Chinese authorities . The firm appointed co-founder Xie Yijing as acting CEO in October 2023 to steady operations , though by mid-2023 its stock remained suspended and its market value frozen at roughly HK$4.1 billion . As 暗涌Waves observed, Bao Fan and China Renaissance had become something of a "coordinate system" for China's new economy — making his fate inseparable from that of an era .
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Coverage
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