The making of tycoon Guo Guangchang
From a young graduate who stayed at home to see how the nation would develop, the 'Buffett of China' is now among the mainland's richest men
When three graduates from Shanghai's prestigious Fudan University set up a small venture about two decades ago, they probably never expected the company would become an icon of the mainland's fast-growing private businesses sector.
It all began with just friendship and love, and perhaps some good connections with the government.
Last week, Shanghai Fosun Pharmaceutical, a generic drug maker, was listed in Hong Kong. The company is a unit of the Fosun Group, one of the mainland's largest private firms, which also controls Shanghai Forte Land, already a large and profitable developer in Shanghai.
At a dinner party to celebrate Fosun Pharma's listing, Guo Guangchang, the chief and co-founder of the group, applauded the staff.
"Everybody at Fosun has been working very hard in the past several years and it [the success] is not easy," he said, struggling to hold back his emotions before hundreds of guests, including many from the banking world and some from the government.