Guo Guangchang’s Speech at 2015 Duke International Finance Forum
On April 25 and April 26, 2015, business leaders and renowned scholars from around the world gathered on the Duke Kunshan University (DKU) campus in Kunshan, China to attend the 2015 Duke International Finance Forum. Guo Guangchang delivered a keynote speech to share his successful experiences regarding investments made in China and overseas.
"China’s Growth Momentum"
You probably not realized that half the world’s current GDP incremental growth comes from China. Only increments represent growth momentum, and anything other than that is simply stock.
Every Beginning is Difficult
Fosun is here to help those enterprises wishing to develop business in China, although many people simply won’t believe it at first. This is the reason why we only invested in two projects over the first three years.
Actions Speak Louder than Slogans
A beautiful slogan won’t easily solve any problem, and I feel that the more important thing is that we do something concrete for them. If this is the approach we pursue, our speed of investment would be greatly increased as time goes by.
Ardent Fan of Buffett
At Fosun, our current positioning is very clear: to be a devoted student of Buffett.
As an investment company, we would have to consider the following:
1. Where should the money come from?
2. Emphasis laid on 3 cycles : the industry cycle, the enterprise itself and the cycle associated with the capital markets, which any investment enterprise like ours would be subject to.
3. Identifying Fosun’s "economic moat": dancing with cyclicality on the value floor.
Fosun’s future development
Capital should be used to serve the industry in a legitimate manner, providing enterprises with funding and services. Fosun itself is not an investor in a purely literal sense. We consistently believe that we are true entrepreneurs, except that our model of entrepreneurship involves a combination of both organic growth and mergers and acquisitions.
We are advocating the "1+1+1" approach. Through combining our insurance capability, our brand capability within the industry and our property development capabilities, we seek to create a global investment group based in China which excels in these several areas.