China Renaissance says detained chairman cooperating with authorities in probe

News Snapshot:

Fan Bao, founder, Chairman and CEO of China Renaissance Group, an investment bank led by one of the country’s most famed rainmakers, holds a news conference on its IPO in Hong Kong, China September 13, 2018. REUTERS/Bobby Yip/File Photo Aug 9 (Reuters) - China Renaissance Holdings (1911.HK) said on Wednesday that investigations against its chairman Bao Fan by certain authorities were being carried out with his cooperation. His detention was extended for three months from May 7 after Bao was taken away by disciplinary officials on Feb. 7, according to a source-based report by Economic Observer, a Chinese financial publication....