The chairman of one of China's most prominent fashion firms, Metersbonwe, has disappeared, the company said, prompting media speculation Friday that he may have been caught up in the country's anti-corruption drive. Metersbonwe could reach neither Zhou Chengjian, ranked China's 62nd richest man last year by wealth publisher Hurun, nor the secretary of the board, it said in a statement to the Shenzhen stock exchange, where it is listed.
Trading in its shares would remain suspended, it said on Friday, "to protect investors' interests". Without citing a source, the Qianjiang Evening News said Zhou may have been detained in connection with an insider trading case. The announcement came only weeks after the four-day disappearance of Guo Guangchang, dubbed "China's Warren Buffett" and the chairman of one of China's biggest private-sector conglomerates, Club Med owner Fosun. Fosun said he was co-operating with judicial authorities as reports linked him to a corruption investigation. Chinese authorities are targeting the financial sector as part of a sweeping anti-graft campaign following a stock market rout that rocked global markets over the summer.