Chinese conglomerate Fosun still confident in country's market, growth potential

still sees growth in China and is "confident in the Chinese market," Thomas Xue, CFO of the Chinese conglomerate, told CNBC's Sri Jegarajah on Thursday.

"China is slowing down a little bit, but still one of the fastest growth economy," Xue said, reiterating his confidence in the Chinese market. "The population is there and we believe the growth is still there.

Fosun has stakes in a number of foreign companies including France's Club Med, Greek jeweler Folli Follie, German wealth manager Hauck & Aufhaeuser Privatbankiers, Canada's Cirque du Soleil and American apparel brand St. John. The move comes after Fosun took control of beleaguered tour operator Thomas Cook through a bailout package. Xue said the Thomas Cook brand will add value to its Fosun Tourism unit by leveraging its extensive platform.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China's growth is slowing — but UBS is 'overweight' on Chinese stocks anywayUBS has even forecast economic growth in China to slow to 5.7% in 2020 and 5.6% in 2021.
Source: CNBC - 🏆 12. / 72 Read more »

Chinese investors are sinking cash into Hong Kong's stock market as protests escalate - Business InsiderThe Chinese buyers are enticed by cheap prices, as months-long protests pull Hong Kong into an economic recession and drag on its stock market.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Elon Musk’s ‘Cybertruck’ Will Thrill Tesla Fans, But Its Pickup Market Potential Is A PuzzlerAs Musk shows the world his vision for an electric Tesla pickup he's also stepping into a massive, lucrative vehicle segment that’s going to be tougher to crack than any he’s attempted before.
Source: Forbes - 🏆 394. / 53 Read more »