Chinese businessman Bao Fan, well-known in tech circles in his country, who disappeared two weeks ago, is “cooperating” with an investigation by the authorities, his company said.

Bao Fan, born in 1970, is the founder of China Renaissance, a large private investment bank specializing in technology investments.

His disappearance, which raised concerns about a wave of arrests in the financial sector by Chinese authorities, sent his company’s stock plummeting on the Hong Kong stock exchange, where it is listed.

Last Sunday night, China Renaissance reported that it was “informed that Mr. Bao is actively cooperating with an investigation being conducted by certain authorities” in mainland China.

“The company will cooperate and assist as it should in any legitimate request of the competent authorities,” added the company, which did not explain what exactly the investigation is about.

The case of Mr. Bao’s disappearance reminded many of that of Chinese-Canadian businessman Xiao Jianhua, who went up in smoke in 2017 while staying in a Hong Kong hotel.

The businessman, although he was said at the time to have had close relations with top officials of the Communist Party, according to press information at the time he was kidnapped by Beijing agents.

When Mr. Xiao was arrested, he was among the richest people in China, with a fortune estimated at $6 billion.

Finally, it became known that the former businessman was sentenced last year to serve 13 years in prison for fraud.

Founded in 2005, China Renaissance has 700 employees worldwide and is present in Singapore and the US, among others.