https://www.scmp.com/rss/37356/feed Fosun International (Hong Kong stock code 00656.HK), the parent of Fosun Group, listed in Hong Kong in July 2007. Fosun Group said it mainly invests in sectors that will significantly benefit from growth in China’s domestic demand, such as consumption, financial services, resources and energy, and manufacturing. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Vincent Chow Vincent Chow Fosun Health Group, a subsidiary of Fosun Pharmaceutical, said it plans to build its first overseas hospitals in Indonesia amid a push by Chinese healthcare companies to expand abroad. The announcement underscores Indonesia’s appeal – home to the world’s fourth-largest population of 287 million – as Beijing encourages its healthcare sector to “go global”. Fosun Health planned to establish “several hospitals” in Indonesia, CEO Frank Hu Hang told delegates at the South China Morning Post’s China... https://www.scmp.com/business/china-business/article/3343167/fosun-health-build-first-overseas-hospitals-indonesia-amid-chinese-go-global-push?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343167/fosun-health-build-first-overseas-hospitals-indonesia-amid-chinese-go-global-push?utm_source=rss_feed Wed, 11 Feb 2026 07:30:09 +0000 Eunice Xu Eunice Xu As Consensus 2026 officially kicks off in Hong Kong this week, digital asset firms are rolling out product updates to coincide with one of the industry’s most significant events. Digital asset custodian Hex Trust launched Aura on Wednesday, a wealth management platform for private investors that integrates trading, investment and estate planning. “Aura marks a new evolution for Hex Trust,” said the firm’s CEO and co-founder Alessio Quaglini in a press release. He noted that while Hex Trust had... https://www.scmp.com/tech/tech-trends/article/3343075/stablecoins-wealth-platforms-launched-consensus-2026-amid-tighter-beijing-oversight?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3343075/stablecoins-wealth-platforms-launched-consensus-2026-amid-tighter-beijing-oversight?utm_source=rss_feed Wed, 11 Feb 2026 01:00:14 +0000 Zhu Wenqian Zhu Wenqian With temperatures falling and holidays approaching, ski resorts across northern China are experiencing a surge in visitors from the south, a trend that is cheering airlines as well as resort operators including Malaysia-based Genting Group. Since the ski season opened on November 15, the Changbai Beautiful China Resort in the northeast province of Jilin, a complex owned by China Green Development Group, has welcomed more than 110,000 visitors, marking a nearly 40 per cent year-on-year increase.... https://www.scmp.com/business/china-business/article/3336257/china-tourism-cold-spots-are-hot-tickets-southern-residents-head-north-ski?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3336257/china-tourism-cold-spots-are-hot-tickets-southern-residents-head-north-ski?utm_source=rss_feed Sun, 14 Dec 2025 04:30:10 +0000 Daniel Ren Daniel Ren Fosun Pharmaceutical, a leading healthcare group, has taken a substantial step towards introducing particle therapy systems to hospitals in mainland China, aligning with Beijing’s efforts to make advanced medical treatment accessible to cancer patients across the country. The Shanghai-based company, a subsidiary of China’s non-state-owned conglomerate Fosun International, formed a partnership with Leo Cancer Care on Thursday, pledging to distribute the UK firm’s Marie medical facilities in the... https://www.scmp.com/business/china-business/article/3331824/fosun-brings-uk-particle-therapy-mainland-china-push-advanced-cancer-care?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3331824/fosun-brings-uk-particle-therapy-mainland-china-push-advanced-cancer-care?utm_source=rss_feed Thu, 06 Nov 2025 23:30:16 +0000 Cheryl Arcibal,Peggy Sito Cheryl Arcibal,Peggy Sito On a Sunday morning earlier this month, five friends from Bangkok stepped through the marble lobby of the Studio City Hotel in Macau – the kind of place better known for gaming tables and stage shows than medical check-ups. Instead, they were heading to iRad Hospital, tucked inside the resort complex, for a round of beauty treatments and wellness sessions. The women – Kwaisun Panchasarp, Nantanat Tejavibulya, Buyasakorn De Jesus and two friends – were in town with their families to catch the NBA... https://www.scmp.com/business/article/3330210/playing-health-card-macau-gives-greater-bay-area-glimpse-its-health-hub-future?utm_source=rss_feed https://www.scmp.com/business/article/3330210/playing-health-card-macau-gives-greater-bay-area-glimpse-its-health-hub-future?utm_source=rss_feed Sat, 25 Oct 2025 02:00:13 +0000 Peggy Sito Peggy Sito Driven by accelerating healthcare demand, Fosun Health plans to target markets in South Asia, Southeast Asia and the Middle East to capitalise on their economic growth and fragmented health systems, according to chairman and CEO Frank Hu Hang. The subsidiary of Hong Kong-listed Shanghai Fosun Pharmaceutical (Group) operates 19 hospitals, clinics and third-party diagnostics centres in mainland China. Four of these are in Foshan, Guangzhou, Shenzhen and Zhuhai – cities that are part of the Greater... https://www.scmp.com/business/china-business/article/3329416/unmet-healthcare-demand-asia-presents-chinese-hospital-operators-opportunities?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3329416/unmet-healthcare-demand-asia-presents-chinese-hospital-operators-opportunities?utm_source=rss_feed Sun, 19 Oct 2025 23:30:15 +0000 Reuters Reuters China’s securities watchdog has advised some local brokerages to pause their real-world asset (RWA) tokenisation business in Hong Kong, said two sources, signalling Beijing’s concerns about a euphoric drive towards a booming digital assets market offshore. The RWA tokenisation process usually converts traditional assets, such as stocks, bonds, funds and even real estate, into digital tokens traded on a blockchain. A raft of Chinese firms, including brokerages, have launched RWAs in Hong Kong... https://www.scmp.com/business/banking-finance/article/3326518/chinas-brokerages-told-pause-rwa-tokenisation-business-hong-kong-sources-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3326518/chinas-brokerages-told-pause-rwa-tokenisation-business-hong-kong-sources-say?utm_source=rss_feed Tue, 23 Sep 2025 07:37:17 +0000 Xinmei Shen Xinmei Shen Yunfeng Financial Group, a fintech company backed by Alibaba Group Holding founder Jack Ma, has hired a former senior executive at Ant Group, which signalled a sharpened commitment to Web3 businesses. Geoff Jiang Guofei – former president at Ant Digital Technology Business Group, responsible for leading the fintech giant’s blockchain project – now serves as the “chairman of the Web3 Development Committee” at Hong Kong-listed Yunfeng, according to a fact sheet for investors published on the... https://www.scmp.com/tech/blockchain/article/3325989/jack-ma-backed-yunfeng-names-ex-ant-group-executive-top-web3-architect?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3325989/jack-ma-backed-yunfeng-names-ex-ant-group-executive-top-web3-architect?utm_source=rss_feed Thu, 18 Sep 2025 11:00:09 +0000 Bloomberg Bloomberg Shanghai Henlius Biotech is in talks with multinational pharmaceutical firms including Johnson & Johnson and Roche Holding about selling them the rights to an experimental cancer drug, people familiar with the matter said. An agreement could fetch the subsidiary of Shanghai Fosun Pharmaceutical at least several hundred million dollars up front and then more in milestone payments down the road based on the drug’s performance, the people said. They asked not to be identified because the... https://www.scmp.com/business/china-business/article/3325717/fosuns-henlius-talks-johnson-johnson-roche-cancer-drug?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3325717/fosuns-henlius-talks-johnson-johnson-roche-cancer-drug?utm_source=rss_feed Tue, 16 Sep 2025 08:30:50 +0000 Xinmei Shen Xinmei Shen A subsidiary of Fosun International this week marked a new milestone in bringing traditional financial instruments onto a blockchain infrastructure, which it touted as Asia’s first “comprehensive” technical solution for stock performance-linked tokens. Fosun Wealth Holdings-backed start-up Finloop Finance Technology Holding collaborated with FinChain, a Web3 brand under Fosun Wealth, in creating the new solution for real-world asset (RWA) tokenisation in Hong Kong. The first Hong Kong stock... https://www.scmp.com/tech/blockchain/article/3324522/fosun-drives-interest-honk-kong-stock-performance-linked-tokens-blockchains?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3324522/fosun-drives-interest-honk-kong-stock-performance-linked-tokens-blockchains?utm_source=rss_feed Fri, 05 Sep 2025 11:00:12 +0000 SCMP Editorial SCMP Editorial It has been good to see Hong Kong shine in its long-established role as China’s gateway to the world. The city should be proud of the latest outreach efforts in the Middle East by an official high-level delegation from its companies and those on the mainland. Chief Executive John Lee Ka-chiu led more than 50 business leaders from Hong Kong and seven mainland provinces and cities on what he described as a “fruitful” five-day trip to Qatar and Kuwait that ended yesterday. Along the way, they... https://www.scmp.com/opinion/comment/article/3310351/mideast-mission-led-lee-highlights-city-role-national-push?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3310351/mideast-mission-led-lee-highlights-city-role-national-push?utm_source=rss_feed Wed, 14 May 2025 22:30:09 +0000 Eric Ng Eric Ng Two Chinese technology firms involved in the development of pharmaceutical drugs have clinched partnership agreements in Southeast Asia and the Middle East, as the industry increasingly looks beyond China’s shores with its cutting edge technology in search of growth opportunities. Fosun Group’s Shanghai Henlius Biotech subsidiary struck a deal with the Fakeeh family’s Al Tiryaq Al-Khalawi Medical Company (SVAX) to set up two ventures in Saudi Arabia to produce and market pharmaceuticals,... https://www.scmp.com/business/companies/article/3285572/henlius-xtalpi-sign-deals-expand-abroad-chinese-drug-companies-go-out-growth?utm_source=rss_feed https://www.scmp.com/business/companies/article/3285572/henlius-xtalpi-sign-deals-expand-abroad-chinese-drug-companies-go-out-growth?utm_source=rss_feed Thu, 07 Nov 2024 07:40:07 +0000 Bloomberg Bloomberg Singapore’s CapitaLand Investment is in advanced talks to buy a minority stake in luxury resort chain Club Med from its Chinese owner Fosun International, according to people with knowledge of the matter. The real estate investment firm, part of Temasek Holdings-owned conglomerate CapitaLand Group, is seeking to acquire from 20 to 30 per cent of the hotelier for several hundred million euros, the people said, asking not to be identified because the information is private. The Singaporean firm... https://www.scmp.com/business/china-business/article/3278864/chinas-fosun-talks-sell-stake-club-med-singapores-capitaland?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3278864/chinas-fosun-talks-sell-stake-club-med-singapores-capitaland?utm_source=rss_feed Tue, 17 Sep 2024 07:20:04 +0000 Daniel Ren Daniel Ren Fosun Tourism Group, the Chinese owner of the Club Med resort chain, is betting on winter sports facilities to tap people’s mounting zeal for skiing and skating even as tourists are spending less on food and hotels when visiting scenic spots. Andrew Xu, co-president of Fosun Tourism, said top ski resorts and entertainment complexes are still in severe shortage in mainland China, where spending on winter sports soared tenfold to 150 billion yuan (US$21 billion) over the past four years. “Tourist... https://www.scmp.com/business/china-business/article/3275805/club-med-owner-bets-winter-sports-china-skiing-craze-creates-severe-shortage?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3275805/club-med-owner-bets-winter-sports-china-skiing-craze-creates-severe-shortage?utm_source=rss_feed Sun, 25 Aug 2024 06:30:11 +0000 Jiaxing Li Jiaxing Li Hong Kong-listed Shanghai Henlius Biotech surged by the most since it floated its shares five years ago after drug maker Fosun Pharma offered HK$5.4 billion (US$690 million) to privatise the company. Fosun Pharma, the pharmaceutical arm of the sprawling Chinese conglomerate Fosun International, will pay HK$24.60 per H share – a term describing the stock of mainland Chinese firms listed in Hong Kong – and 22.44 yuan per unlisted share to buy out all the shares it does not already own. That... https://www.scmp.com/business/markets/article/3267920/shanghai-henlius-biotech-shares-soar-hong-kong-after-fosuns-us690-million-buyout-offer?utm_source=rss_feed https://www.scmp.com/business/markets/article/3267920/shanghai-henlius-biotech-shares-soar-hong-kong-after-fosuns-us690-million-buyout-offer?utm_source=rss_feed Tue, 25 Jun 2024 04:23:22 +0000 Fosun International, one of China’s largest private-sector conglomerates, has accelerated its pace of asset disposal after agreeing to sell German lender Hauck & Aufhauser Lampe (HAL) to Dutcj bank ABN Amro for €672 million (US$731 million). Shanghai-based Fosun, controlled by Chinese billionaire Guo Guangchang, announced on Tuesday that the proceeds of the sale will be used to replenish general working capital. The deal, the second asset sale conducted by Fosun in Europe since mid-April, is... https://www.scmp.com/business/china-business/article/3264425/chinese-conglomerate-fosun-international-sells-german-private-bank-hal-abn-amro-us731-million-boost?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3264425/chinese-conglomerate-fosun-international-sells-german-private-bank-hal-abn-amro-us731-million-boost?utm_source=rss_feed Tue, 28 May 2024 09:30:25 +0000 US law firm Mayer Brown said on Thursday that it plans to separate from its current Hong Kong operations, as many international law firms rethink or reduce their presence in China. Chicago-founded, 1,800-lawyer Mayer Brown said it plans to continue to operate in Hong Kong through a new partnership focused on corporate and other work. Mayer Brown said its Hong Kong partners plan to reestablish their firm as Johnson Stokes & Master (JSM), which was the name of the Hong Kong-based entity that... https://www.scmp.com/business/companies/article/3261239/us-law-firm-mayer-brown-split-its-hong-kong-operations-joining-peers-downsizing-china?utm_source=rss_feed https://www.scmp.com/business/companies/article/3261239/us-law-firm-mayer-brown-split-its-hong-kong-operations-joining-peers-downsizing-china?utm_source=rss_feed Thu, 02 May 2024 14:36:05 +0000 Fosun International, one of China’s largest private-sector conglomerates, has agreed to sell an 8.2 per cent stake in Belgian insurer Ageas to BNP Paribas for about €670 million (US$714 million) as part of an effort to reduce its debt amid economic turbulence. A deal involving the sale of 15.4 million shares of Ageas was concluded on Friday, the Shanghai-based group said in a filing to the Hong Kong stock exchange. “The disposal is part of the company’s efforts [towards] streamlining its... https://www.scmp.com/business/china-business/article/3259066/chinas-fosun-international-sells-stake-belgian-insurer-ageas-bnp-paribas-reduce-debt-focus-core?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3259066/chinas-fosun-international-sells-stake-belgian-insurer-ageas-bnp-paribas-reduce-debt-focus-core?utm_source=rss_feed Mon, 15 Apr 2024 10:00:28 +0000 Fosun International, one of China’s largest private sector conglomerates, will hasten its exits from noncore businesses to lower its indebtedness and focus on its cash-flow generating assets in a bid to sustain its turnaround. The company, whose businesses span a wide range of industries including tourism, pharmaceuticals, real estate and financial services, aims to cut its debts by 10 billion yuan (US$1.38 billion) annually in the next two to three years and improve its financial profile,... https://www.scmp.com/business/china-business/article/3257068/chinese-conglomerate-fosun-international-accelerate-asset-sales-deleveraging-campaign-boosts?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3257068/chinese-conglomerate-fosun-international-accelerate-asset-sales-deleveraging-campaign-boosts?utm_source=rss_feed Thu, 28 Mar 2024 07:46:22 +0000 Fosun Tourism Group, the leisure and tourism unit of Chinese conglomerate Fosun International, is courting both domestic and international investors in a move that is in line with its asset-light strategy. Investors who “share the same values and agree upon the company’s strategy” are welcome to acquire stakes in all units, Xu Xiaoliang, Fosun Tourism’s chairman, said during a media briefing on Friday. Fosun Tourism, which owns popular resort chain operator Club Med, reported a net profit of... https://www.scmp.com/business/china-business/article/3255596/club-med-owner-fosun-tourism-courts-investors-return-profitability-days-after-reports-debt-concerns?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3255596/club-med-owner-fosun-tourism-courts-investors-return-profitability-days-after-reports-debt-concerns?utm_source=rss_feed Fri, 15 Mar 2024 12:15:10 +0000 Fosun Tourism Group, the leisure and tourism unit of Chinese conglomerate Fosun International, said on Wednesday that it is “financially sound”, amid reports that its parent firm is mulling the sale of a stake in the luxury Atlantis Sanya resort to cope with debt. Fosun International has been in talks with potential buyers – including state-backed companies and investors from the Middle East – over the sale of a part or all of its stake in the resort on Hainan, an island province in southern... https://www.scmp.com/business/companies/article/3254420/chinese-conglomerate-fosuns-tourism-unit-says-it-financially-sound-amid-reports-atlantis-sanya-stake?utm_source=rss_feed https://www.scmp.com/business/companies/article/3254420/chinese-conglomerate-fosuns-tourism-unit-says-it-financially-sound-amid-reports-atlantis-sanya-stake?utm_source=rss_feed Wed, 06 Mar 2024 12:16:14 +0000 Chinese artificial intelligence (AI)-based logistics company Westwell inaugurates on Tuesday an international headquarters in Hong Kong as a springboard to global expansion. The Shanghai-based company, which designs and develops AI chips and autopilot control systems for AI-powered autonomous vehicles for the logistics industry, will also set up a research centre in the city. “Hong Kong’s strategic location, its well-established infrastructure and its status as an international finance centre... https://www.scmp.com/business/companies/article/3252466/hong-kong-picked-chinese-ai-logistics-firm-westwell-host-international-headquarters-research-centre?utm_source=rss_feed https://www.scmp.com/business/companies/article/3252466/hong-kong-picked-chinese-ai-logistics-firm-westwell-host-international-headquarters-research-centre?utm_source=rss_feed Mon, 19 Feb 2024 23:30:12 +0000 Some of China’s most prominent tycoons have been committed to reining in debt, and are also eying the overseas market for increased growth this year, despite Beijing’s attempt to play up domestic economic prospects and calls for more private investment. “The economic recovery last year was not as fast as we expected. Private firms are still facing huge pressure,” said Guo Guangchang, founder of Fosun Group, one of China’s largest private conglomerates. The 56-year-old is a respected voice in... https://www.scmp.com/economy/china-economy/article/3248509/chinas-private-firms-warned-days-runaway-growth-have-gone-amid-debt-crisis-urged-thrive-overseas?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3248509/chinas-private-firms-warned-days-runaway-growth-have-gone-amid-debt-crisis-urged-thrive-overseas?utm_source=rss_feed Tue, 16 Jan 2024 00:00:14 +0000 Fosun International, through its Shanghai-based healthcare unit, is ready to deliver its first locally built Da Vinci surgical robots to its clients in a major step to make advanced medical technology affordable to Chinese patients. The first robot has been fully built and completed for an undisclosed client, more than a year after its unit Shanghai Fosun Pharmaceutical Group (Fosun Pharma) joined with California-based Intuitive Surgical to build a 700 million yuan (US$96 million) research and... https://www.scmp.com/business/china-business/article/3241245/fosun-pharma-prepares-deliver-da-vinci-surgical-robots-make-advanced-medical-treatment-affordable?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3241245/fosun-pharma-prepares-deliver-da-vinci-surgical-robots-make-advanced-medical-treatment-affordable?utm_source=rss_feed Sun, 12 Nov 2023 08:14:06 +0000 Resort and hotel operators in China are expecting another windfall during the eight-day National Day holiday later this month as a boom in tourism overwhelms capacity, allowing the industry players to raise prices. In some cases, the operators could inflate fees by as much as 10 times the average rates, some of them said, a welcome relief for the industry seeking to make up for lost income and opportunities in the past two years. China abandoned its zero-Covid policy late last year, giving the... https://www.scmp.com/business/china-business/article/3233260/chinas-resort-and-hotel-operators-await-windfall-national-day-holiday-set-unleash-pent-demand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3233260/chinas-resort-and-hotel-operators-await-windfall-national-day-holiday-set-unleash-pent-demand?utm_source=rss_feed Mon, 04 Sep 2023 01:00:34 +0000 Hongkongers are ready to splash out more money on travel, especially to snowy and premium destinations, according to resort chain operator Club Med. The company, owned by Hong Kong-listed Fosun Tourism, racked up record sales of last-minute travel bookings for September, which signals that tourism in Asia is in a “rebound phase” after the rollback of travel curbs, said Rachael Harding, CEO of East and South Asia and Pacific. However, mainland China’s outbound market is still lagging behind, she... https://www.scmp.com/business/companies/article/3233089/fosun-owned-club-med-says-hongkongers-heading-ski-slopes-bucket-list-destinations-travel-bookings?utm_source=rss_feed https://www.scmp.com/business/companies/article/3233089/fosun-owned-club-med-says-hongkongers-heading-ski-slopes-bucket-list-destinations-travel-bookings?utm_source=rss_feed Sun, 03 Sep 2023 04:00:21 +0000 Club Med plans to build more hotels in Hainan province, one of its key markets in mainland China, as it bets on the post-Covid travel boom, while parent Fosun Tourism expects to post its first profit in three years amid rising demand from Chinese tourists and growth in its Southeast Asian markets. Club Med is checking sites in China’s southernmost province, in cities such as Sanya and Wenchang, to build one or two new resorts within two to three years, Fosun Tourism co-president Andrew Xu said... https://www.scmp.com/business/article/3217760/fosun-tourisms-club-med-build-more-resorts-hainan-eyes-return-profitability-year?utm_source=rss_feed https://www.scmp.com/business/article/3217760/fosun-tourisms-club-med-build-more-resorts-hainan-eyes-return-profitability-year?utm_source=rss_feed Fri, 21 Apr 2023 00:30:10 +0000 With travel across the globe recovering, Club Med is eager to introduce more of its destinations to the Asian market, especially since China has scrapped all its Covid-19 restrictions, allowing the world’s largest population to become international tourists again after three years. “We have a positive outlook globally as we have seen a strong rebound in different regions of the world, surpassing 2019 results, which is a positive indicator of the resumption of travel,” said Olivier Monceau, the... https://www.scmp.com/property/article/3208410/china-owned-club-med-reports-travel-demand-surpassing-2019-singaporeans-malaysians-book-snowy?utm_source=rss_feed https://www.scmp.com/property/article/3208410/china-owned-club-med-reports-travel-demand-surpassing-2019-singaporeans-malaysians-book-snowy?utm_source=rss_feed Mon, 30 Jan 2023 04:30:09 +0000 Shanghai Fosun Pharmaceutical Group, the exclusive China distributor of German firm BioNTech’s mRNA Covid-19 vaccine, said it has received more than 10,000 enquiries through its online booking service from people wanting to travel from mainland China to Hong Kong to receive the Omicron-focused shot. Long queues of mainland Chinese nationals looking to receive the mRNA vaccine have been seen outside Hong Kong clinics this week. The border between the city and mainland China was opened at the... https://www.scmp.com/business/companies/article/3206455/shanghai-fosun-sees-surge-enquiries-mainland-chinese-looking-book-omicron-focused-biontech-shot-hong?utm_source=rss_feed https://www.scmp.com/business/companies/article/3206455/shanghai-fosun-sees-surge-enquiries-mainland-chinese-looking-book-omicron-focused-biontech-shot-hong?utm_source=rss_feed Wed, 11 Jan 2023 23:30:09 +0000 Executives from 21 private-sector Chinese companies touted their confidence in the nation’s economy in an unprecedented programme aired by China’s state broadcaster, an affirmation of their economic role by the ruling Communist Party and evidence of Beijing’s determination to revive private businesses as it makes economic growth its top priority this year. Companies highlighted on The Dialogue, airing in two parts on January 7 and January 14, include tech giants Alibaba Group Holding and JD.com,... https://www.scmp.com/business/china-business/article/3206263/alibaba-fosun-blue-moon-among-21-private-companies-touting-chinas-economy-unprecedented-state-tv?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3206263/alibaba-fosun-blue-moon-among-21-private-companies-touting-chinas-economy-unprecedented-state-tv?utm_source=rss_feed Tue, 10 Jan 2023 23:30:13 +0000 Starting next week, mainland customers who booked online with the Chinese distributor of BioNTech’s Covid-19 vaccines will able to receive their Omicron-targeting jabs in Hong Kong, as prices citywide reached as high as HK$2,800 (US$358) for a single dose. But private hospitals on Monday said they were uncertain whether enough travellers would take advantage of the border reopening and travel to the city, even to take a vaccine not available in mainland China. Advertisements for private clinics... https://www.scmp.com/news/hong-kong/health-environment/article/3206176/omicron-targeting-jabs-available-next-week-hong-kong-mainlanders-booking-chinese-vaccine-distributor?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3206176/omicron-targeting-jabs-available-next-week-hong-kong-mainlanders-booking-chinese-vaccine-distributor?utm_source=rss_feed Mon, 09 Jan 2023 14:49:51 +0000 Chinese conglomerate Fosun International has agreed to sell its stakes in four companies for a combined 6.7 billion yuan (US$975 million) in the latest series of asset sales by the owner of the Club Med chain of resorts. The Shanghai-based conglomerate said it would sell a 25.7 per cent interest in Tianjin Jianlong Iron & Steel Industrial and 26.7 per cent stakes in Beijing Northern Jianlong Industrial, Jianlong Steel and Janeboat Holdings. Heavily indebted Fosun said it would use the proceeds... https://www.scmp.com/business/china-business/article/3205735/fosun-international-sell-stakes-four-companies-us975-million?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3205735/fosun-international-sell-stakes-four-companies-us975-million?utm_source=rss_feed Thu, 05 Jan 2023 12:33:58 +0000 Billionaire Guo Guangchang’s Shanghai Fosun Pharmaceutical Group is considering a sale of Indian drug maker Gland Pharma after receiving interest from potential buyers, people familiar with the matter said. Fosun Pharma, a listed arm of Chinese conglomerate Fosun International, has been working with an adviser as it informally gauges interest in its controlling stake in Gland, the people said. Companies in the industry and buyout firms are in the early stages of studying the business, the people... https://www.scmp.com/business/companies/article/3201381/fosun-pharma-mulls-sale-indian-drug-maker-gland-chinese-group-seeks-shore-balance-sheet?utm_source=rss_feed https://www.scmp.com/business/companies/article/3201381/fosun-pharma-mulls-sale-indian-drug-maker-gland-chinese-group-seeks-shore-balance-sheet?utm_source=rss_feed Tue, 29 Nov 2022 07:02:08 +0000 Fosun International, the owner of the Club Med chain of resorts, is reportedly selling its stake in Nanjing Iron & Steel for 15 billion yuan (US$2.1 billion), as the heavily indebted group seeks to raise cash to trim its borrowings. Fosun is selling its assets in Nanjing Iron & Steel to Jiangsu Shagang Group, according to a source close to the deal. The two sides are finalising the agreement, the person added. Trading in shares of both Fosun and Nanjing Iron & Steel was suspended on Monday,... https://www.scmp.com/business/china-business/article/3196254/club-med-owner-fosun-nears-deal-sell-stake-nanjing-iron?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3196254/club-med-owner-fosun-nears-deal-sell-stake-nanjing-iron?utm_source=rss_feed Mon, 17 Oct 2022 10:30:11 +0000 Fosun International, which owns the Club Med chain of resorts, has sold some of its peripheral assets to raise almost US$100 million in cash in recent weeks, as credit rating cuts heighten concerns about the conglomerate’s financial strength. The group sold 38 million shares in Shanghai-listed retailer Shanghai Yuyuan Tourist Mart for 295.8 million yuan (US$42 million) in several transactions between August 26 and September 19, according to Shanghai Stock Exchange filings on Tuesday. It also... https://www.scmp.com/business/china-business/article/3193170/fosun-international-sells-assets-amid-credit-rating-cuts?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3193170/fosun-international-sells-assets-amid-credit-rating-cuts?utm_source=rss_feed Tue, 20 Sep 2022 10:40:30 +0000 Fosun Group, the owner of the Club Med resorts and one of China’s biggest private conglomerates, is trying to quell a false alarm about its health after a jittery market wiped billions of dollars off its value on account of a media report. A Bloomberg report on Tuesday about the company under scrutiny by China’s biggest banks at the order of the industry regulator is “completely false,” said Fosun’s chief financial officer Alex Gong Ping. “Neither the China Banking and Insurance Regulatory... https://www.scmp.com/business/banking-finance/article/3192402/club-meds-owner-fosun-denies-reports-about-being-under?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3192402/club-meds-owner-fosun-denies-reports-about-being-under?utm_source=rss_feed Wed, 14 Sep 2022 00:55:57 +0000 Fosun International said executives at its Chinese online-dating subsidiary have been arrested for alleged financial embezzlement, following local media reports about the sudden disappearance of top managers. The conglomerate’s anti-graft department found clues that executives at Baihe Jiayuan Network Group abused their position to commit crimes and reported them to the public security authority, a company representative in Shanghai said in a statement posted to WeChat. “Certain executives at... https://www.scmp.com/tech/big-tech/article/3185829/executives-fosun-owned-online-dating-giant-baihe-jiayuan-arrested?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3185829/executives-fosun-owned-online-dating-giant-baihe-jiayuan-arrested?utm_source=rss_feed Tue, 19 Jul 2022 14:00:12 +0000 China’s Fosun International Ltd. is on the hunt for an addition to its collection of fashion brands, which includes Lanvin and St John Knits – a sign of luxury’s resilience despite high inflation and recession concerns. First, Fosun aims to float Lanvin on the New York Stock Exchange via a blank-check company in October or November, said Joann Cheng, chairman and chief executive officer of Lanvin Group. A potential acquisition would come after that, “ideally later next year”, she said in an... https://www.scmp.com/magazines/style/luxury/article/3185375/which-luxury-fashion-brand-will-lanvin-group-acquire-next?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/article/3185375/which-luxury-fashion-brand-will-lanvin-group-acquire-next?utm_source=rss_feed Fri, 15 Jul 2022 04:45:26 +0000 A fashion group backed by a Chinese billionaire and named after the French brand it acquired last October has teamed up with Canadian e-commerce platform Shopify to tap American consumers. Lanvin Group, a subsidiary of Fosun International – owned by Chinese tycoon Guo Guangchang – announced a partnership with Shopify, an Ottawa-based e-commerce website, to bring European fashion brands to the US market. “Our goal is to have online sales in North America reach 25 per cent [of the total] in 2025,... https://www.scmp.com/tech/tech-trends/article/3175677/chinese-owned-fashion-group-lanvin-aims-woo-us-consumers-shopify?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3175677/chinese-owned-fashion-group-lanvin-aims-woo-us-consumers-shopify?utm_source=rss_feed Wed, 27 Apr 2022 10:30:20 +0000 Fosun International, one of China’s largest private conglomerates, has stepped up preparations to produce cheaper generic versions of Covid-19 medications developed by American pharmaceutical giants Pfizer and Merck. Its subsidiary Shanghai Fosun Pharmaceutical Group is looking into which of its existing plants can be used to manufacture generic versions of Pfizer’s nirmatrelvir, which is sold under the Paxlovid brand name, and Merck’s molnupiravir, Fosun International co-CEO Chen Qiyu said... https://www.scmp.com/business/china-business/article/3171731/chinas-fosun-posts-26-cent-jump-net-profit-gets-ready-make?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3171731/chinas-fosun-posts-26-cent-jump-net-profit-gets-ready-make?utm_source=rss_feed Thu, 24 Mar 2022 10:20:57 +0000 Lanvin Group, controlled by Chinese conglomerate Fosun International, has agreed to merge with a US blank-cheque company backed by private equity firm Primavera Capital, valuing the French luxury fashion house at US$1.5 billion. The merger paves the way for Lanvin to list its shares in New York more than three years after Fosun took control of the company, giving it a platform to raise capital to fund future expansion. Lanvin said it will use the proceeds for future acquisitions, and hopes to... https://www.scmp.com/business/banking-finance/article/3171530/fosuns-luxury-fashion-house-lanvin-merges-spac-backed?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3171530/fosuns-luxury-fashion-house-lanvin-merges-spac-backed?utm_source=rss_feed Wed, 23 Mar 2022 08:24:26 +0000 China’s winter sports industry is basking in the afterglow of the country’s successful hosting of the Winter Olympics last month. The number of people who have taken to ski slopes and skating rinks, inspired by the spectacle of medal-winning skills they had observed in Beijing, has far exceeded the government’s wildest forecasts Up to 346 million people are taking part in winter sports, according to the National Bureau of Statistics, surpassing the 300 million target set by President Xi Jinping... https://www.scmp.com/business/china-business/article/3170270/chinas-winter-sports-scene-booms-eileen-gus-olympic-glory?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3170270/chinas-winter-sports-scene-booms-eileen-gus-olympic-glory?utm_source=rss_feed Sun, 13 Mar 2022 02:00:31 +0000 The 24th Winter Olympics in Beijing has catapulted dozens of Chinese brands into the global limelight, giving them unprecedented airtime to showcase their stuff on the world stage as 91 teams compete in the largest winter sports event. Here are the top companies and brands across a multitude of industries that are basking under the limelight, as official sponsors and advertisers. Anta Sports Products Anta is the official sportswear provider of the Beijing 2022 Winter Olympics from February 4... https://www.scmp.com/business/china-business/article/3166500/winter-olympics-eileen-gu-propels-anta-midea-global?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3166500/winter-olympics-eileen-gu-propels-anta-midea-global?utm_source=rss_feed Thu, 10 Feb 2022 09:30:20 +0000 Although luxury brands tend to see Chinese customers as their saviour, their downfall could, on the flip side, be Chinese owners. News broke last week that London Savile Row stalwart Gieves & Hawkes could be in jeopardy: its parent company, Trinity Limited, is itself owned by the Shandong Ruyi Group, a Chinese textile and clothing company in Shanghai that is facing debt issues. In a court hearing on November 4, Trinity Limited lost its appeal against a winding-up order and, unless a buyer is... https://www.scmp.com/lifestyle/fashion-beauty/article/3155285/why-western-luxury-brands-bought-chinese-investors-fail?utm_source=rss_feed https://www.scmp.com/lifestyle/fashion-beauty/article/3155285/why-western-luxury-brands-bought-chinese-investors-fail?utm_source=rss_feed Tue, 09 Nov 2021 23:15:13 +0000 Resort chain operator Club Med is looking to expand in Southeast Asia, eyeing properties in Thailand, Vietnam and Indonesia as it anticipates an aggressive travel rebound in Asia-Pacific after the pandemic ebbs. Despite the Covid-19 pandemic ravaging the global tourism industry, Club Med, owned by Hong Kong-listed Fosun Tourism, has continued to aggressively open new resorts. The leisure business of the Chinese conglomerate controlled by billionaire Guo Guangchang opened Club Med La Rosiere in... https://www.scmp.com/business/companies/article/3148728/fosun-tourism-owned-club-med-eyes-expansion-southeast-asia-it?utm_source=rss_feed https://www.scmp.com/business/companies/article/3148728/fosun-tourism-owned-club-med-eyes-expansion-southeast-asia-it?utm_source=rss_feed Wed, 15 Sep 2021 02:00:16 +0000 Club Med owner Fosun Tourism Group said on Wednesday that it expected a sharp rebound in business in the months ahead. The Hong Kong-listed company, which is the leisure business unit of Fosun International, the conglomerate controlled by Chinese billionaire Guo Guangchang, expected performance between July this year and June 2022 to match its full-year earnings for 2019, as the global tourism sector showed encouraging signs of recovery from the Covid-19 pandemic, said Andrew Xu, its executive... https://www.scmp.com/business/companies/article/3147195/club-med-owner-fosun-tourism-bullish-about-return-pre?utm_source=rss_feed https://www.scmp.com/business/companies/article/3147195/club-med-owner-fosun-tourism-bullish-about-return-pre?utm_source=rss_feed Thu, 02 Sep 2021 00:00:30 +0000 China’s top health care fund manager Han Guangzhe is beating all his domestic rivals by betting on market leaders with some of the most expensive equity valuations, saying they will deliver as the industry expands. Eight of his top 10 picks have gained by 17 to 142 per cent so far this year, while two stumbled by 14 to 26 per cent, helping his Golden Eagle Healthcare Fund end the first half as the top-ranked sector leader with a 33.2 per cent return, according to a ranking by East Money... https://www.scmp.com/business/markets/article/3139772/chinas-top-health-care-fund-manager-looks-apple-growth-power?utm_source=rss_feed https://www.scmp.com/business/markets/article/3139772/chinas-top-health-care-fund-manager-looks-apple-growth-power?utm_source=rss_feed Sun, 04 Jul 2021 23:30:20 +0000 Shanghai Yuyuan Tourist Mart Group, a leading retailer in China controlled by conglomerate Fosun International is setting up a 40 billion yuan (US$6.4 billion) company that will invest in airlines. The retailer said in a filing to the Shanghai Stock Exchange on Thursday that it would shell out up to 10 billion yuan to establish the business. The rest of the capital will be contributed by unnamed partners. The new entity will be called Yuyuan Aviation Industry Limited Partnership, according to... https://www.scmp.com/business/companies/article/3134201/fosun-retail-unit-yuyuan-sets-us64-billion-firm-invest-airlines?utm_source=rss_feed https://www.scmp.com/business/companies/article/3134201/fosun-retail-unit-yuyuan-sets-us64-billion-firm-invest-airlines?utm_source=rss_feed Thu, 20 May 2021 10:00:23 +0000 Shanghai Fosun Pharmaceutical (Group), controlled by conglomerate Fosun International, hopes to expand its international footprint through mergers and acquisitions (M&As) and sales of its innovative drugs in more overseas markets. The Hong Kong and Shanghai-listed group, which holds the distribution rights for BioNTech’s Covid-19 vaccine in Hong Kong and Macau, aims to increase its offshore sales to 40 per cent of group revenue over the next five years, chairman and chief executive officer Wu... https://www.scmp.com/business/companies/article/3127902/fosun-pharma-biontech-vaccine-agent-seeks-more-global-sales?utm_source=rss_feed https://www.scmp.com/business/companies/article/3127902/fosun-pharma-biontech-vaccine-agent-seeks-more-global-sales?utm_source=rss_feed Thu, 01 Apr 2021 05:05:13 +0000 Hongkongers who have already received their first shot under the city’s now-suspended BioNTech vaccination scheme will be given their booster jab straight after the investigation into packaging defects has concluded, a top official has pledged, without offering a timetable for the restart. Secretary for the Civil Service Patrick Nip Tak-kuen, who oversees the city’s Covid-19 inoculation drive, on Thursday also said that communication surrounding the suspension was flawed, with the limited... https://www.scmp.com/news/hong-kong/health-environment/article/3126901/coronavirus-hong-kong-residents-will-be-offered?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3126901/coronavirus-hong-kong-residents-will-be-offered?utm_source=rss_feed Thu, 25 Mar 2021 05:09:32 +0000