Well-known economist Ba Shusong was taken away for investigation on suspicion of illegal fund-raising

According to the Economic Observer, Ba Shusong, chief economist of China Banking Association and senior consultant of Peking University's HSBC Financial Research Institute, was suspected of being involved in an illegal fund-raising case and was taken away by the case-handling authority around March 12, 2026, and has since "lost contact" with the outside world. Sources familiar with the matter said that the case may be related to an illegal fund-raising project led by his students, and Ba Shusong had been restricted from leaving the country at least six months ago. His employer and I have not yet made a public response to the relevant situation.