This photo taken on June 25, 2015 shows Guo Guangchang, the chairman of one of China's biggest private-sector conglomerates, Club Med owner Fosun, attending a conference in Hangzhou, in eastern China's Zhejiang province. CHINA OUT AFP PHOTO
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Guo Guangchang, one of China's best-known entrepreneurs, is helping police with an investigation that mostly concerns his personal affairs, the president of Guo's investment conglomerate Fosun International said Sunday.Fosun had confirmed on Friday that Guo, a self-styled student of investor Warren Buffett, was assisting authorities with a probe, a day after local media said the group had lost contact with its billionaire founder.Wang said he could not provide more details as the investigation was "sensitive".The CEO said Guo was able to take part in major decisions involving the company, but also said Fosun had the management structures and business strength to withstand Guo's absence, saying it did not rely on "any one executive".Fosun International's shares and convertible bonds, as well as shares in companies controlled by Guo, were suspended in Hong Kong and the mainland on Friday.
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