According to a CNN report, the CEO of a Chinese live-streaming service, which enjoys Tencent's backing, has now become the latest high-level executive to go missing in the country. Tencent Holdings Ltd., a prominent Chinese technology and entertainment conglomerate, has invested in the said live-streaming service.

As reported by the state-owned media outlet Cover News, there has been an alarming absence of DouYu's CEO, Chen Shaojie. Furthermore, unverified accounts have suggested that Chen is the subject of an investigation and has been unaccounted for nearly three weeks. These developments underscore the concerns surrounding high-profile disappearances of corporate leaders in China and their implications.

The party responsible for initiating the investigation remains undisclosed, and DouYu has not provided any response to CNN's request for comment. Chen Shaojie, the 39-year-old CEO, was last seen in the public eye during his appearance in August, where he addressed financial analysts on the company's quarterly earnings conference call.

Notably, the Chinese live-streaming service had its debut on the Nasdaq in 2019, successfully raising approximately USD 775 million in one of the most substantial share offerings by a Chinese company on Wall Street during that year. This background context adds weight to the significance of the CEO's current unavailability and the ongoing situation.

DouYu, known as "fighting fish" in Chinese, is often likened to Amazon's Twitch service. It serves as a platform for interactive live streams of video games, available on both desktop and mobile applications, allowing users to engage in real-time chat and view other content created for the platform, as reported by CNN.

The unexplained absence of DouYu's CEO occurs within the context of China's ongoing anti-corruption crackdown, which has notably affected senior executives, particularly in the finance and technology sectors.

This broader anti-corruption effort extends to the financial sector, as evidenced by the recent investigation of Zhang Hongli, a former senior executive at the Industrial and Commercial Bank of China (ICBC), one of China's "Big Four" financial institutions. The anti-corruption watchdog's announcement underscores the comprehensive nature of these initiatives and their impact on high-ranking figures in various industries.

The Central Commission for Discipline Inspection revealed that Zhang Hongli was under suspicion of "seriously violating rules and laws," a phrasing commonly associated with corruption allegations. However, no further details regarding the allegations were provided in the announcement.

The anti-corruption crackdown in China has affected notable figures in finance and technology. Bao Fan, a prominent dealmaker, has been in custody since his disappearance in February, as per state media.

In 2023, the commission probed over a dozen senior executives in major financial institutions, as per CNN's analysis of statements on the Central Commission for Discipline Inspection's website, highlighting the extensive anti-corruption efforts.

This drive also impacted Xu Jiayin, Evergrande Group's chairman, who was taken into police custody, and Bao Fan, founder of China Renaissance Holdings, went missing, causing a share price drop. These developments underline the broad influence of China's anti-corruption measures across various industries.

“The board is not aware of any information that indicates that Mr. Bao’s unavailability is or might be related to the business and/or operations of the group which is continuing normally,” China Renaissance said in the statement.

Bao Fan, the founder of China Renaissance Holdings, was reported missing, with his absence noted both in his office and by Al Jazeera. In China, it's not unusual for executives to vanish for extended periods. Later, it was disclosed that Bao Fan had been under the custody of the top anti-corruption agency, and his detention had been extended, as per a state media report.

Image source: CNN