The disappearance of one of China’s top tycoons has sparked fears of a dangerous new phase in companies’ relations with the Communist party, with one expert warning of a “Richter 9” earthquake across the private sector.
On Sunday, Shanghai-based Fosun Group reiterated that chairman Guo Guangchang was “assisting authorities” in an unspecified investigation — although the company insisted it was not the subject of the probe.
It is not clear if Mr Guo, who has not been accused of any wrongdoing, is assisting authorities in an anti-corruption investigation, stock market probe or separate matter. It is not unusual for senior government or company officials to assist in investigations in which they are not later implicated.
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