Investigative publication Caixin Thursday reported that Guo, chairman of Fosun and Hong Kong-listed Fosun International, could not be reached by his company staff. Fosun International has not made any statement to the stock exchange on the matter.
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Financial magazine Caixin said that staff at Fosun had been unable to contact Mr Guo since Thursday afternoon.
Shanghai Fosun Pharmaceutical (Group) Co., which is linked to Guo’s conglomerate, plans to resume the trading of its shares in Shanghai on December 14 after its suspension on Friday, the company said in the filing. It did not elaborate.
“Mr. Guo may continue to take part in decision makings of the Company’s major matters via appropriate means”.
Guo, 48, is one of China’s biggest investors overseas.
Guo is China’s 17th richest man with a net worth of $5.6 billion, according to the Bloomberg Billionaires Index. It has businesses in a range of sectors including media, insurance, real estate and retail. Caixin previously referenced social media messages noting the billionaire was seen in the company of police at a Shanghai airport after he flew in from Hong Kong.
Guo is among the most high profile but certainly not the first Chinese executive to disappear from the radar recently.
The campaign has also ensnared a long list of Communist Party officials, some of whom appear to have had disputes with Xi.
Fosun said it “never sought to inappropriately benefit from cooperation with (Wang’s) Friendship Group and never delivered benefits to Wang Zongnan”, according to an emailed statement reported by Reuters.
Hong Kong – Hong Kong shares dropped more than 1 percent on Friday to a two-month low, capping a dismal week as investors stayed sidelined on weak China economic data and ahead of a likely United States interest rate hike. “The operations of the Company remain normal”.
Since it was founded in 1992 by Guo and three fellow graduates of Shanghai’s Fudan University as a startup with initial capital of $4,000, Fosun has spent more than $30 billion in buying foreign assets.
Fosun International says multibillionaire founder Guo Guangchang is helping Chinese authorities with investigations. Patrick Zhong, Fosun Group’s senior managing director and head of global investment, spoke at a recent conference in Shanghai about arranging a dinner for “my friend George Osborne”, the United Kingdom chancellor of the Exchequer, during his recent visit to China.
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Mr Guo, whose Fosun empire snapped up the Club Med resort chain in a billion-dollar deal this year and also has a slice of United Kingdom travel operator Thomas Cook, is one of China’s best-known entrepreneurs.
