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Asia » China

Chinese billionaire Zhou Chengjian goes missing

| Friday, 01.08.2016, 12:11 PM |   (5145 views)

Chinese billionaire Zhou Chengjian of one of China's biggest fashion chains, Metersbonwe, has gone missing, the company confirmed.

Mr Zhou is the latest in a string of high-profile businessmen in the country to temporarily disappear.

Metersbonwe suspended trading in its shares over his unaccounted absence.

Chinese media reports have speculated he has been picked up by the police as part of Beijing's anti-corruption drive.

Zhou Chengjian has been named as the country's 62nd richest person by wealth publisher Hurun, attributing a fortune of $4.1 bn to him.

Starting out as a tailor, he built Shanghai-based Metersbonwe into one of China's biggest and best-known clothing companies.

Trade suspended

A company statement said it could reach neither the chairman nor his secretary.

Metersbonwe also halted trading of its shares "to protect investors' interests".

His disappearance comes only weeks after Guo Guangchang, chairman of private sector conglomerate Fosun, temporarily went missing.

Fosun operates in sectors from steel and mining to pharmaceuticals. In 2015 it acquired the French vacation resort company Club Med.

Chinese media reports on links between the disappearance of businessmen and the authorities sweeping anti-corruption campaign remain unconfirmed.

In the case of Mr Guo, he reappeared after several days and according to his company had been "assisting in certain investigations carried out by judiciary authorities".

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