China’s Fosun International has reshuffled its top management and affirmed its intention to continue investing in Europe and the US. The sprawling conglomerate said longstanding chief executive and co-founder Liang Xinjun has stepped down due to health reasons. He has been replaced by Ding Guoqi, senior vice-president, the Financial Times reports. Fosun co-founder and chairman Guo Guangchang, the self-styled “Warren Buffett of China,” said on Wednesday that the company would continue to target overseas acquisitions, despite the depreciation of the renminbi and Chinese regulatory controls aimed at stemming capital flight. “We have multiple overseas financing capabilities,” Guo said, noting that the company was not reliant on onshore financing from Chinese banks. He emphasized that Fosun would continue investing overseas despite speculation that the typically acquisitive company would slow global spending.
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