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Chinese Conglomerate Fosun to Invest $3.2 Bln in AI, Biotech, Fintech

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Fosun is planning to invest 100 bln Yuan($16 bln) in AI, biotech and fintech areas over next decade.
Chinese Conglomerate Fosun to Invest $3.2 Bln in AI, Biotech, Fintech
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Fosun is planning to invest 100 bln Yuan ($16 bln) in Artificial Intelligence, biotech and fintech areas over next decade. The company’s main focus will be India and Africa and Portuguese-speaking markets.

The company reported a 28.2 percent increase in net profit in 2017 and the growth was mainly from their success in health, insurance and finance areas.

Fosun said this investment would not be affected by control on outbound investment imposed by the government because it is compliant with both Chinese laws and other countries’ local laws.

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