Xinhua News Agency, May 31, China's regulatory bodies extend the retention of Bao Fan, a well-known investor, for a period of three months from May 7, 2023. Bao Fan is the chairman of the board, executive director, CEO and controlling shareholder of China Renaissance Capital Investment Holdings Co., Ltd. People familiar with the matter said that on February 7, 2023, Bao Fan was taken away by the Supervisory Commission of the discipline Inspection Commission for investigation and detained. The specific agencies handling the case included the International Cooperation Bureau of the Central Commission for discipline Inspection, the Supervision Commission of the Beijing Municipal Commission for discipline Inspection, and other departments. He was suspected of paying bribes for the unit. The jungle associated with the Bao Fan case was also notified to continue to extend after the expiration of the retention period of six months. (economic Observer)