Fosun’s big asset sale marks the end of an era in Chinese business
The sprawling group is offloading many of its prize investments
In the past few years Guo Guangchang, chairman of Fosun, a Chinese conglomerate, has watched as the Communist Party has taken down his rivals. Two executives at hna, an indebted airline that once held a big stake in Deutsche Bank, have been arrested. The founder of Anbang, an acquisitive insurer, has received a lengthy prison sentence for financial crimes. So has the founder of Tomorrow Group, a banking-and-insurance empire.
This article appeared in the Business section of the print edition under the headline “When the circus leaves town”
Business November 5th 2022
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