Zhou Chengjian, the billionaire chairman of the well-known domestic fashion brand Metersbonwe, is missing.
Chengjian is the latest in a long line of executives across the country that have either been arrested or gone missing amid a government-led nationwide crackdown on corruption
Metersbonwe suspended its shares on the Shenzhen Stock Exchange on Thursday and said in a statement, which was picked up by The Financial Times, that it would investigate media reports in China that Chengjian had been picked up by the police and has not been seen since.
Metersbonwe issued a second statement last night, saying that the group was unable to reach Zhou or the secretary of the board, Tu Ke without giving any further details.
Zhou grew his net worth of $2.4 billion in a classic rags to riches tale. He is now one of the richest people in the country. He was a former tailor and turned his skills into a multi-billion dollar business but launching one of China’s first nationwide fashion brands — Metersbonwe.
The company launched its IPO on the Shenzhen Stock Exchange in 2008.
Bu Chengjian is one of the latest high-profile executive to have gone missing in recent months, in the wake of China’s stock market crash. As many as 36 companies reported executives missing from January to September, according to a Bloomberg report.