Chairman Guo Guangchang Attended the Annual Meeting of the National People's Congress in Beijing

(9 March 2012, Shanghai) Guo Guangchang, a member of the National People's Congress and Chairman of Fosun Group, attended fifth annual meeting of the 11st National People's Congress, which started on 5 March 2012, along with other representatives from Shanghai. During the meeting, Mr. Guo raised several motions on hot topics including the development of the non-state owned economy, improvement of people's livelihood. These suggestions received great attention from local and foreign media which cover the National People's Congress and the Chinese People's Political Consultative Conference annual meetings.

During the group discussion among representatives from Shanghai, a session which Mr. Xi Jinping joined, Mr. Guo made a key note speech. Mr. Guo said the most critical issues for the development of the non-state owned economy were employment creation and protection to people's livelihood. A key to further promote the non-state owned economy is to implement policies prescribed in "The State Council No. 36 Opinions on Encouraging and Guiding the Healthy Development of Investments in the Non-state Owned Sector". Mr. Guo hopes the Central Government will enact more practical measures in widening sources of supply of financial capital and alleviating tax burden for individuals and companies.

Mr. Guo also submitted several motions in the Congress, including "Suggestion to  decriminalisation of private deposit-taking" and "Suggestion to promotion of the development of small-sum lending institutions" and "Suggestion to expansion of sources of capital for private equity investment funds" for opening up sources of financial capital; and "Suggestion to for individual income tax assessments based on families" and "Suggestion to improvements in levy and appropriation of cultural business fees" to alleviate tax burden for companies and individuals.

Mr. Guo also devoted attention to "protection of legal rights of insurance companies in lawsuits" and jointly endorsed "Suggestion to drafting of a nationwide regulation banning the consumption of sharks' fins at government banquets at all levels" with other deputies including Mr. Liu Chuanzhi.