THE chairman of the beleaguered Fanya Metal Exchange, which came under the spotlight earlier this year following protests by angry investors who allegedly lost US$6 billion, is missing, said a Hong Kong-listed company that he separately heads up.

    The incident highlights rising risks posed to China’s economy from its US$2.6 trillion wealth management industry and the challenges it presents to regulators.

    Imagi International Holdings said in a statement Friday that it had not been able to reach Shan Jiuliang, the company’s chairman and executive director, who also founded the Fanya exchange.

    Imagi is not aware of Shan’s whereabouts, said the statement. He was last seen at a board meeting Oct. 15.

    In July, hundreds of citizens protested outside the Fanya Metal Exchange in Kunming in southwestern Yunnan Province, alleging the exchange had lost investments of more than 40 billion yuan (US$6 billion).

    A person who had worked at the exchange until recently said that authorities in November started asking Shan questions on trading numbers.

    The Fanya exchange and officials in the Kunming and Yunnan governments declined to comment.

    The exchange, regulated by the local government in Yunnan, trades 14 minor and rare metals, offering a range of investment products based on the metal stored in its warehouses.

    (SD-Agencies)