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

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Mon, 04/02/2018 - 08:21
Beixi Xu
Fosun is planning to invest 100 bln Yuan($16 bln) in AI, biotech and fintech areas over next decade.
Cover image via U.Today

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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About the author

Beixi Xu is a Washington-based business reporter with a strong interest in AI, Next Generation Technologies and space exploration. Besides English, she also speaks Mandarin and German. She is currently working as a business and market reporter for Medill News Service, covering retail and transportation.

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