China's Fosun looks to shed $3b worth of assets this year as debt burden weighs

China's Fosun looks to shed $3b worth of assets this year as debt burden weighs

Guo Guangchang Photographer: Paul Yeung/Bloomberg

Embattled Chinese conglomerate Fosun Group is on track to shed over $3 billion worth of assets this year, streamlining its sprawling portfolio to dispel concerns over mounting debts.

In a video message to investors on Nov. 10, Fosun Group chairman and co-founder Guo Guangchang said consumer goods and services will form the group’s core moving forward.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter