China's edgy tycoons will send more capital abroad

FOSUN boss Guo Guangchang is one of China's most respected corporate leaders, a business guru to match former GE chief Jack Welch. His brief disappearance suggests no-one is safe from China's graft crackdown. The heightened campaign, plus economic and currency worries, could worsen China's capital flight problem.

President Xi Jinping's purge is escalating, and apparently widening focus after the stock market boom and bust. The number of institutions under investigation has quadrupled since he took power from 20 in 2013 to 83 in 2015, according the Eurasia Group.

So far, the state sector has borne the brunt of the attack, with recent arrests at the securities regulator, CITIC Securities and Agricultural Bank among others. The private sector is now being drawn into the fight.