The missing head of Chinese Fosun was detained by police

Moscow. December 14. The head of the Board of Directors of the Chinese company Fosun International Ltd. Th Guanchan, information about the disappearance of which caused the stock market crash of the PRC on Friday, was arrested by the police.

Representatives of the company confirmed that it is cooperating with the investigation, reports BBC News. It is noted that Guanchan can still participate in the activities of Fosun.

It is not clear why Huanan was detained by the police. “He is under investigation is not,” said BBC News a source close to Fosun.

Chinese billionaire Guo of Guanshan is one of the founders of the company Fosun, which appeared in 1990-ies. Currently Fosun Group, which includes Fosun International, owns assets in various industries, including insurance, real estate, pharmaceuticals and resorts. The total value of the assets of the company, located on five continents, is about 34 billion yuan ($5.3 billion).

“Th – the one of well-known Chinese entrepreneurs, and this incident will surprise foreign regulators, as Fosun aggressively expanding its international insurance business, – said the representative of Moody’s Investor Service Sally. But it is too early to say how this will affect operations Fosun”.

According to the Agency Bloomberg, referring to informed sources, Guanchan on Monday went back to work and takes part in the internal conference held in Fosun.

The detention of Guo Huancane sources explain his participation in the investigation conducted by the authorities of the PRC in respect of the former Vice mayor of Shanghai AI Bozzone, who is accused of corruption.

Shares in Fosun International, which trades were suspended on Friday and resumed on Monday, has fallen in price on 11%.