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Is Fosun Set to Rise Again as China Reopens?

The debt-heavy conglomerate announced a fresh $1 billion in asset sales last week, as growing signs emerge that its looming debt crisis of 2022 may be receding

This article only represents the author's own views.

On the last evening of 2022, Guo Guangchang, chairman of conglomerate Fosun International Ltd. (0656.HK), visited a lantern festival at Yu Garden, the famous Shanghai tourist attraction operated by one of his company’s units. The rags-to-riches billionaire made New Year's wishes that life would return to normal in China, and that Fosun's global partners could visit a country cut off from the rest of the world for three years by strict Covid curbs.

"2022 witnessed grief and misery. I hope there's light in 2023 after the darkest times," Guo wrote on his personal blog.

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