BUSINESS

Chinese copper tycoon goes missing

By Rishabh Raj

1

Tycoon's mysterious disappearance

Chinese copper tycoon He Jinbi, founder of Maike Metals International Co., has reportedly gone missing, possibly detained by police for questioning.

2

Maike Metals' liquidity crisis

Once China's largest importer of refined copper, Maike Metals faced a liquidity crisis last year, severely impacting the company.

3

About Maike Metals 

Established in 1993, the company played a vital role in connecting international traders and Chinese consumers during the 2000s commodity supercycle.

4

Expansion and pandemic woes

However, expansion into real estate and COVID-19 lockdowns contributed to its financial troubles.

5

Creditor lawsuits mounting

Jinbi has since faced legal action from creditors, including a lawsuit by ING Groep NV over $147 million in unpaid debt.

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