Asia-Pacific News

China's 'Warren Buffett' missing: Report

The Chinese 'Warren Buffett' is missing

Yet another Chinese executive has gone missing. The chairman of one of China's largest private investment firms, Fosun International, has been unreachable since Thursday afternoon China time (midnight ET), Chinese financial news service Caixin reported on its website.

In afternoon social media posts, witnesses said they had seen police taking Guo Guangchang away at a Shanghai airport after a flight from Hong Kong, Caixin said.

It is not clear whether the 48-year-old billionaire, known as "China's Warren Buffett," is under investigation.

Family members and company executives told Caixin that Guo was in Shanghai at noon, but subsequent phone calls redirected to his secretary.

Shares in Fosun International and Fosun Pharmaceutical were on a trading halt Friday. Fosun Pharmaceutical's April 2017 bond was down around 1.8 percent, according to Reuters. Five other listed companies under the Fosun Group also suspended trade.

On Sunday, China's largest brokerage, Citic Securities, said it was unable to contact two of its top executives.

In the last few weeks, the China Securities Regulatory Commission has stepped up investigations into local brokerage firms. Chinese President Xi Jinping has also made cracking down on corruption a priority.

In August, a Shanghai court said Guo had inappropriate connections to Wang Zongnan, the former chairman of a state-owned enterprise who was sentenced to 18 years in prison for embezzlement and bribery.

Fosun said it "never sought to inappropriately benefit from cooperation with (Wang's) Friendship Group and never delivered benefits to Wang Zongnan," according to an emailed statement reported by Reuters.

Read MoreHow China's anti-corruption drive is hurting growth

Guo ranks 11th on Forbes China Rich List, and 259th on the Forbes Billionaire List, with a net worth of nearly $7 billion according to Forbes.

Read the English version of the report on Caixin's website here. Original Chinese article.

Reuters contributed to this report