ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
China debt crunch

China's Fosun signals more asset sales after Moody's downgrade

Group faces soaring dollar borrowing costs as Chinese property sector struggles

Fosun's investment portfolio spans, tourism, health care, finance and supply chain businesses.   © Reuters

SHANGHAI -- Fosun International will reorganize its business portfolio to shrink its debt, the Chinese private-sector conglomerate said Wednesday, following a downgrade to its credit rating by Moody's.

Fosun, whose businesses include finance, health care and tourism, will dispose of nonstrategic and noncore assets and increase cash on hand, according to an earnings presentation released Wednesday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more