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Fosun chief's disappearance stokes fear among China's CEOs

Published Thu, Dec 17, 2015 · 09:50 PM
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Shanghai

THE disappearance of Fosun chief Guo Guangchang, dubbed China's Warren Buffett, has stoked fear among captains of industry who thought good behaviour and loyalty could protect them from Beijing's ever-expanding anti-graft campaign.

Mr Guo, the billionaire chairman of Fosun International which is one of China's biggest private conglomerates, disappeared from public view a week ago amid reports he had been detained by police in Shanghai.

As the company's stock tumbled around 10 per cent, Mr Guo briefly resurfaced on Monday, offering a cryptic reassurance to anxious investors that "there will be a better Fosun next year".

The firm said the 48-year-old executive - known as a loyal advocate of the ruling Communist Party - was "assisting in certain investigations" by the Ch…

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