Fosun says founder assisting authorities with investigation

Fosun International said its Chairman Guo Guangchang was assisting authorities with an investigation on Friday after shares in the company and those controlled by Guo were suspended in Hong Kong and the mainland on Friday, Reuters reported, citing a statement from the company. “Guo is one of the high-profile Chinese entrepreneurs and this incident will raise eyebrows among foreign regulators, as Fosun has been aggressively expanding its global insurance footprint,” said Sally Yim, senior credit officer at Moody’s Investors Service. “But it is too early to say how this incident will impact Fosun’s operations.”