August 31, 2017 / 3:27 AM / a year ago

China's Fosun not under investigation over overseas deals -CEO

HONG KONG, Aug 31 (Reuters) - Fosun International Ltd , one of the China’s most acquisitive dealmakers, hasn’t been investigated by the country’s regulators over its overseas investments and deals, Chief Executive Officer Wang Qunbin said on Thursday.

The conglomerate, which has assets in Brazil, Portugal, France, Canada and the United States, supports the Chinese government’s new guidelines to regulate overseas investment, he said.

He added that Beijing is looking to support capable firms investing overseas while restricting or banning deals in certain sectors.

“The new guidelines are good news for Fosun’s globalisation and overseas investments,” Wang said at a news conference to discuss the company’s first-half results. “Fosun always insists on genuine investments which are in line with the regulation.”

The company reported a 33.6 percent jump in its first-half net profit due to strong performances at key businesses including Fosun Pharma, Club Med and Yuyuan. (Reporting by Julie Zhu; Writing by Elzio Barreto; Editing by Edwina Gibbs)

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