Chinese tech mogul not seen in weeks after official probe: Reports
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BEIJING - The boss of a leading Chinese live-streaming platform has not been seen in public for weeks, state-run media outlets reported, following an investigation into illegal content on his site.
DouYu founder and chief executive Chen Shaojie has not been seen since October, and industry insiders believe it is related to suspected gambling during a live stream on the platform, reported The Paper, a government-run outlet based in Shanghai, on Monday.
DouYu is backed by Chinese tech giant Tencent and is United States-listed, with a market capitalisation of $268 million. A representative did not provide details when asked by AFP on Tuesday about Chen’s whereabouts.
“DouYu’s business operations remain normal,” the representative said.
The Chengdu-based Cover News also reported that Mr Chen’s colleagues were not aware of his whereabouts and were unable to get in touch with him.
There has been no official confirmation of Mr Chen’s detention but lengthy disappearances by senior executives in China are often followed by announcements that they are under investigation.
Mr Bao Fan, the billionaire chairman and executive director of investment bank China Renaissance, went missing earlir in 2023
Live streaming is a multimillion-dollar phenomenon in China,
But Beijing has sought to crack down on perceived immoral content in the booming industry, launching probes into several top social media platforms and targeting prominent influencers.
The authorities conducted a sweeping investigation into DouYu in May over concerns about pornography and other “vulgar” content.
Several of China’s leading financiers and businessmen have fallen from grace in recent years, with an intense crackdown on alleged corruption pushed by President Xi Jinping showing no sign of abating.
The former boss of China’s state-owned banking giant Everbright Group, Li Xiaopeng, was arrested in October on charges of taking bribes.
And in September, the former chairman of state-owned China Life Insurance, Wang Bin, was sentenced to life in prison for corruption.
