Missing billionaire Guo assisting with Shanghai probe

File photo of Guo Guangchang, chairman of Fosun International. [Photo/IC]

Liang Xinjun, chief executive officer of Fosun International, said in a global conference call Sunday night that the company's chairman Guo Guangchang, who was confirmed to have lost contact three days ago, is now in Shanghai assisting with judicial investigation.

Liang stressed in the conference call that it is just a routine judicial procedure for case investigation, while Guo is just assisting in investigation. It does not indicate that the company has any problem.

Liang made it clear that the company is still functioning on a normal schedule and that in last few days Guo has participated in a large number of important decisions.

After Guo was pronounced missing, Fosun reached financial institutions, rating organizations, and investors first to place an understanding in the security degree of Fosun's system. Liang believes that Guo, who is also known as the Warren Buffet of China, is not the only reason that overseas investors show their interest in Fosun. The company's strategy and system have remained unchanged until now.

Wang Qunbin, president of Fosun International, said the ongoing investigation more concerning Guo's personal matters rather than Fosun's business practices.