Xinjun Liang, CEO of the Fosun Group, speaks to an audience on Tuesday in New York. Liang spoke at the beginning of the 2015 Principles for Responsible Management Education (PRME) Global Forum. [Provided to China Daily]

While China-based conglomerate Fosun Group continues to look overseas for new business endeavors to add to its portfolio, the company is also keeping an eye on corporate responsibility measures like the fight against pollution and care of the elderly, according to CEO Xinjun Liang.

"Fosun is a leader across a number of industries," Liang said on Tuesday. "Our goal of overseas expansion coincides with our economic growth initiatives. But making money cannot always be the priority over engaging the community for support.

"There is a need for more elderly care in China, we must work together to combat pollution, and in some places there is a lack of medical supplies and appropriate support," he said. "Investments into environmental technology and the healthcare sectors could help but the government can't be the only one we rely on here."

Liang made his comments on Tuesday at a media briefing at Fosun's US headquarters in Manhattan at 28 Liberty Street, the site formerly known as One Chase Manhattan Plaza, the 60-story office building Fosun bought from JP Morgan Chase in 2013 for $725 million.

The meeting came on the sidelines of the 2015 Principles for Responsible Management Education (PRME) Global Forum, a UN-backed initiative that encourages global businesses to adopt socially responsible and sustainable policies.

This year's PRME forum, which runs from June 23-25 and is being held at Fosun US headquarters, focuses on identifying major trends that could affect the sustainable development goals put forth by the UN.

Founded in 1992 and based in Shanghai, Fosun Group has investments in insurance, industrial operations, pharmaceuticals and asset management. Its workforce numbers more than 35,000 employees worldwide.

Fosun has more than $50 billion in total assets with more than a third of it in the insurance business.

The firm has been active in overseas acquisitions in recent years, with its more high-profile moves in the entertainment and real estate sectors.

Fosun invested in Studio 8 in June 2014, a film company founded by Jeff Robinov, a former president of Warner Bros Entertainment Inc. The Wall Street Journal reported in September that the initial input would approach $200 million.

In January, Fosun acquired Meadowbrook Insurance Group for more than $430 million.

Some of Fosun's other insurance subsidiaries include: Yong'an P&C Insurance; Pramerica Fosun Life Insurance (a US-Sino joint venture with Prudential Financial Inc); and Caixa Seguros e Saude SGPS SA (a state-owned Portuguese insurance provider).

Liang said: "Companies with overseas platforms can find more investment opportunities. But an overseas plan has to be good and a company has to be patient."

Liang said he hoped Fosun would become a role model for other companies looking abroad for new business.

"Going overseas can be risky, and you need patience in accumulating the necessary skills and workforce," he said. "We want to help society create entrepreneurs, kind of like an incubator, and we will be selective to gauge the financial benefit and social impact we will have.

"But it's important to have social causes to show that we do care about the global community and the rising social responsibilities," Liang said.

jackfreifelder@chinadailyusa.com