Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Fosun International Limited    0656   HK0656038673

FOSUN INTERNATIONAL LIMITED

(0656)
  Report  
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

China-US Relations: Looking Ahead, Moving Forward and Expanding Global Partnership - Guo Guangchang

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/06/2019 | 03:43am EDT

The 11th China-US Business Leaders Roundtable of the Yabuli China Entrepreneurs Forum was held on April 11, 2019 at the newly renovated 28 Liberty in New York.

The first roundtable was held in the Morgan Library & Museum in New York ten years ago, which was the 30th anniversary of formalized China-US diplomatic relations. It was also the year that former US Treasury Secretary Henry Paulson started the China-US Strategic and Economic Dialogue. At that time, Chinese enterprises were eager to go global, but they were also uncertain about how to make the first step. We witnessed the globalization process of Chinese enterprises, the ups and downs of China-US relations, as well as the great efforts made to promote prosperity between the two countries.

'It's important to have the right partners. We were very lucky to meet great partners in New York. During our long-time partnership with Prudential, we would discuss issues together and development solutions.' Guo Guangchang, chairman of Fosun International, in a dialogue with Mark B. Grier, vice chairman of Prudential Financial, said, 'In terms of cooperation experience between China and the US, there are several principles that I have valued: first, we need to look ahead and spend time solving problems; second, we need to move forward and use right strategies to solve problems; and last, we need to have a global outlook, solve problems through cooperation. In the long run, I think that the China-US relations will be in a state of positive competition and cooperation. I'm convinced that leaders of both countries are wise enough to address the epic issue of China-US relations.'

'The cooperation between Prudential and Fosun can be dated back to a cold call eight years ago. Since then, we have established Pramerica Fosun in China and a fund overseas.' Mr. Grier said. When Fosun began its journey of globalization, the cooperation with Prudential enabled Fosun to gain an insight and quickly shaped its overseas team; equipped with industrial investment and operation capabilities.

Afterwards, Fosun has achieved rapid growth. It has a proven track record in buying as well as selling with increased knowledge about how to make valuable global investments and when to divest. Meanwhile, Fosun has brought many global resources and brands back to China, and leveraged its access to promote their development. Club Med, St. John, and Fosun Pictures films have been favored by domestic consumers. In this context, Fosun upgraded its industrial operation and strategic C2M transformation to better serve its consumers.

Former New York mayor Michael Bloomberg was a guest speaker at the first China-US Business Leaders Roundtable. In early April, Bloomberg officially included China's treasury bonds and policy bank bonds into its Bloomberg Barclays Global Aggregate Index. It's anticipated that approximately 2 trillion USD of capital will eventually flow to China's domestic bond markets, something Mr. Bloomberg is proudly stated, 'At the Bloomberg-China New Economy Summit held in Singapore last year, when some Chinese entrepreneurs reminded me of the forum in New York, I realized I hadn't been there for ten years, so I'm back this year to celebrate the 10th anniversary with you all […] Faced with numerous issues in the China-US relations and the evolution of the world economy, we as entrepreneurs can contribute a lot to address them instead of sitting back and waiting for the government to do the work. For the past years, Bloomberg has been supporting the internationalization of China's financial market and promoting the communication of Chinese enterprises with the political and business communities in the US.'

Former US president Jimmy Carter, who promoted the normalization of China-US diplomatic relations, sent the China-US Business Leaders Roundtable and 'Fosun Night' a congratulatory letter, 'Amid unprecedented challenges posed to the China-US relations, forums like the China-US Business Leaders Roundtable are very meaningful to enhanced economic exchanges between the two countries […]I'm also pleased to be informed that the forum will discuss a key topic of health, which is aligned with the founding purpose of the Carter Center.'

Fosun also hosted the Healthcare Forum with the theme of innovation, digitalization and collaboration. As health is the universal concern, guests from pharmaceutical research enterprises and medical investment industries discussed health insurance, cooperation on medical research between China and the US, and the future of healthcare technology. Participants were excited to embrace new environments to explore new opportunities, and shape a global collaboration landscape for healthcare businesses.

The highlight of the 'Fosun Night' Dinner began with a discussion between Stephen Schwarzman, chairman of the Blackstone Group, and Kevin Rudd, former Prime Minister of Australia. When talking about China's economic development in the past few decades, Mr. Rudd said: 'Internationalization of global economy will continue to deepen in the future, and capital from different sources will increasingly flow between countries. If Chinese companies want to seek better development, they should cooperate with global players in a more open and active manner.' Mr. Schwarzman mentioned: 'In a fast changing world where economic system is being reshaped, education becomes particularly important. Although there are so many businesses between China and the US, the US still has a less comprehensive understanding of China. That's why I pay so much attention to the education of future business leaders.'

In the rebalancing of commercial markets in the era of globalization, cultural and art exchanges between the East and the West may be another driving force. The discussion was followed by an act of Guqin (the seven-string Chinese zither) arranged by Fosun Foundation and an opera performance by 'Sing for Hope', an art NGO partnered with Fosun. Guqin and opera are a perfect mix that brings together the Eastern and Western cultures.

It was a thought-provoking experience looking back on the past decade. We will remain committed to addressing issues and disputes with win-win solutions based upon shared beliefs. Our consensus is to lay a solid foundation for common development. In this new era, let's work together to make a difference.

Disclaimer

Fosun International Limited published this content on 06 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 May 2019 07:42:03 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FOSUN INTERNATIONAL LIMITE
10/17FOSUN INTERNATIONAL : Joint announcement - the spin-off and separate listing of ..
PU
10/08FOSUN INTERNATIONAL : Letter to non-registered holders - notification letter and..
PU
10/08FOSUN INTERNATIONAL : Letter to registered holders - notification letter and cha..
PU
10/08FOSUN INTERNATIONAL : Extraordinary general meeting form of proxy
PU
10/08FOSUN INTERNATIONAL : Proposed adoption of the ftg share option scheme
PU
10/08FOSUN INTERNATIONAL : Proposed adoption of the yuyuan tranche i employee share o..
PU
10/08FOSUN INTERNATIONAL : Connected transaction - issue of new shares under the shar..
PU
10/07FOSUN INTERNATIONAL : Establish “1+N” Ecosystem on a Daily Basis
PU
10/03FOSUN INTERNATIONAL : Monthly return as at 30 september 2019
PU
09/27FOSUN INTERNATIONAL : Announcement - statement regarding market speculation
PU
More news
Financials (CNY)
Sales 2019 120 B
EBIT 2019 26 720 M
Net income 2019 14 712 M
Debt 2019 81 785 M
Yield 2019 4,05%
P/E ratio 2019 5,09x
P/E ratio 2020 4,70x
EV / Sales2019 1,31x
EV / Sales2020 1,24x
Capitalization 76 356 M
Chart FOSUN INTERNATIONAL LIMITED
Duration : Period :
Fosun International Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FOSUN INTERNATIONAL LIMITE
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Average target price 13,76  CNY
Last Close Price 8,94  CNY
Spread / Highest target 78,4%
Spread / Average Target 53,9%
Spread / Lowest Target 11,1%
EPS Revisions
Managers
NameTitle
Qun Bin Wang Chief Executive Officer & Executive Director
Qi Yu Chen Co-President & Executive Director
Xiao Liang Xu Co-President & Executive Director
Guang Chang Guo Chairman
Linnan Xue Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
FOSUN INTERNATIONAL LIMITED-11.54%11 017
ALLIANZ SE25.96%102 291
CHUBB LIMITED14.96%67 679
ZURICH INSURANCE GROUP33.30%57 512
MARSH & MCLENNAN COMPANIES24.20%50 150
AMERICAN INTERNATIONAL GROUP INC35.09%46 314