FOSUN INTERNATIONAL LIMITED Guo Guangchang Meets Warren Buffett in Seattle
On the morning of September 23, U.S. local time, President Xi Jinping attended the U.S.-China CEO Roundtable in Seattle. This is the highlight of the second day of President Xi's visit to the United States. Of course, apart from these Internet stars, there was also a pair that drew special attention: world famous investor Warren Buffet and Fosun Group chairman, Guo Guangchang, who is considered as one of his best students.
Xi Jinping stressed at the roundtable that due to differences in stages of development, the Chinese and U.S. economies are highly complementary. There is greater room and opportunity for bilateral economic and trade cooperation. We support large U.S. companies that establish regional headquarters and research centers in China and encourage more small and medium U.S. enterprises to expand their business in China. Meanwhile, Chinese investments in the United States will also continue to grow.
Jokingly, Guo Guangchang called himself a student of Buffet at the roundtable as he introduced Fosun's U.S. investment projects and its participation in Sino-U.S. cultural and artistic cooperation and exchange programs. At the roundtable, Guo Guangchang said that the United States has the world's largest concentration of superior resources, and given Fosun's focus on the four major fields of insurance, private banking, health and happy & lifestyle, the Group actively explores superior projects for cooperation. Up to now, Fosun's scale of investments in the United States has already surpassed $5 billion, creating a total of 4,895 job opportunities. These investments include: the establishment of three pharmaceutical laboratories in Silicon Valley for seamless 24/7 global research and development as well as over ten investment cooperation projects, such as the New York landmark 28 Liberty, the global leader in specialty insurance, Ironshore, U.S. property & casualty insurance company, MIG, renowned US womenswear brand, St. John, innovative Hollywood film company, Studio 8, and a number of VC projects.
During the roundtable, Buffett and 'Chinese Buffett' also had the chance to meet face to face, reaching a consensus: continue to be optimistic for the Chinese economy, continue to adhere to value investing discipline.
At President Xi Jinping's first stop on his visit to the United States, Guo Guangchang also participated in a series of bilateral exchange events in Seattle, fostering extensive communication with Chinese and Americans alike, including Henry Paulson, Gary Locke, Jiang Jianqing, Jack Ma, Pony Ma, and others, to constructively advance the establishment of a Sino-U.S. platform of cooperation and exchange for entrepreneurs.
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