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Screenshot of a breaking news alert e-mail from Q2 2017
The past several weeks have seen several directors of Chinese and Hong Kong financial companies mysteriously disappear.
But whereas we are still awaiting any news regarding Dr. Yim Fung, chairman of Hong Kong brokerage Guotai Junan International Hold. Limited (HKG:1788), Mr. Guo Guangchang, executive director and chairman of Fosun International Limited (HKG:0656,) reappeared this morning to attend a corporate event.
Fosun, whose business is focused on investments, industrial operations, asset management and insurance, published an announcement on Friday (December 11th), saying that Mr. Guo was “assisting in certain investigations carried out by Mainland judiciary authorities”. And although there is still no clarity regarding whether he will continue his dealings with the Chinese authorities, the company dared to restart trading in its shares this morning.
At the same time, media reports alleged that Mr. Guo showed up at a Fosun event at the Kerry Hotel Pudong in eastern Shanghai today. According to people attending the meeting, he only gave welcoming comments to the group and did not comment on the investigation.
Chinese financial companies have become the focus of tighter regulatory measures and investigations following the Chinese stock markets slump last summer.