Fosun didn’t receive any notice from authorities about the requests, a representative for the group said in a statement to Bloomberg. A subsequent query to the Beijing state asset regulator found the practice is part of its normal research and previously involved other companies, the representative said, adding the group’s operations remain healthy and resilient to challenges.
Chinese authorities have told the nation’s biggest banks and state-owned firms to start a round of checks on their financial exposure to Fosun, one of the country’s largest non-state conglomerates, according to people familiar with the matter.
Multiple regulators including China’s banking watchdog and the local commission that oversees state investments in Beijing recently told institutions under their oversight to closely examine their Fosun exposure, said the people, asking not to be identified as the matter is private.
