Guo Guangchang News
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The ranks of China’s ultra-wealthy in its legislature swelled 20 percent this year, highlighting the vested interests that may oppose any measures by incoming President Xi Jinping to reduce the nation’s wealth gap.
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Fosun International Ltd., a Chinese company that last year took a stake in Greece’s Folli Follie Group, expects 2012 investments to surpass the as much as 30 billion yuan ($4.8 billion) it spent in 2011, its chairman said.
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The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close.
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Nanjing Iron & Steel Co., the Chinese steelmaker part-owned by billionaire Guo Guangchang , put off iron ore purchases and instead ran down inventories as prices of the steelmaking material decline.
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Fosun International Holdings Ltd. , controlled by billionaire Guo Guangchang , plans to invest in Japanese companies which will be seeking funds for rebuilding after the nation this month suffered its worst earthquake.
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China vowed to extend drug-price cuts, rankling some of the country’s largest manufacturers, in an overhaul of its health-care system to trim the cost of caring for an aging population.
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A group of Chinese investors is in the “early stages” of considering a bid for Prudential Plc, the Sunday Times reported , without stating how it got the information.
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Fosun International Ltd., which today announced an insurance venture with Prudential Financial Inc., plans more acquisitions in the U.S., Europe and Japan to accelerate growth.
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The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the last close.
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At least four groups of Chinese investors are considering acquiring American International Group Inc.’s Asia insurance unit, AIA Group Ltd., the South China Morning Post reported, citing people in the banking industry familiar with the situation.
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