Fosun to continue global expansion

Fosun Group, China’s largest private conglomerate, is aiming to become a world leader in insurance, tourism and healthcare but also has a “clear plan” to reduce its debts, chairman and co-founder Guo Guangchang said on Tuesday to Reuters. Guo said his group – which up to now has largely targeted companies in developed markets – was also turning its focus to investment opportunities in emerging markets. Fosun has spent about $30 billion in the past two decades outside China, mainly acquiring insurance and real estate assets in Europe and the United States, as well as making investments in the likes of tourism group Club Med and Canada’s Cirque du Soleil.