Private conglomerate Fosun Group will scour the market this year for investment prospects exposed by China’s industrial upgrade, including opportunities in steel, energy and finance, National Business Daily reported Friday, citing Fosun chairman Guo Guangchang. The group, which has interests ranging from pharmaceuticals to energy, said environmental protection will also be on its investment list for 2014. Fosun stepped up its overseas spending last year, outlaying 30 billion yuan (US$4.9 billion) in total. Earlier this month it bought an 80 percent stake in Portuguese insurer Caixa Seguros e Saúde. Guo was quoted as saying that Fosun aims to become an insurance-centered investment group similar to Ping An Insurance (Group) Ltd.
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