China Daily, China’s national English-language newspaper, recently released a video report titled “Shared Journey: From investment to partnership - How a Chinese Company Has Taken Root in Europe”. As part of China Daily’s special report commemorating the 50th anniversary of diplomatic relations between China and the European Union, the video explores practices and experiences of Chinese companies in their long-term development in Europe. Fosun, one of the few Chinese private enterprises that has consistently and deeply cultivated overseas markets, was featured in the report.

The video highlights Fosun’s globalization practices and focuses on its business layout, long-term investment, and operations in Portugal.

With a globalization strategy spanning nearly two decades, Fosun has established a solid presence in the European market. Through persistently advancing globalization and adhering to localized operations, Fosun’s Portuguese insurance company Fidelidade has become a successful example of Chinese private enterprise operating globally, delivering mutual benefits for Fidelidade, Luz Saúde, and other overseas enterprises. Meanwhile, Fosun’s evolving industrial ecosystem and synergies provide a strong foundation for sustainable development and long-term growth overseas, powering sustained growth and long-term prospects for its overseas enterprises.

Fidelidade, one of Fosun International’s four core subsidiaries, has consistently held the leading market share in Portugal, with operations spanning Europe, Africa, Latin America, Macau SAR and other countries and regions. In July 2025, Fidelidade received its first coverage and “A” rating from S&P.

In 2015, Fosun completed its full tender offer of Club Med, accelerating the brand’s product upgrades and global expansion. Today, Club Med operates nearly 70 distinctive resorts across more than 40 countries and regions, spanning diverse vacation experiences.

Luz Saúde, the Portuguese private healthcare provider majority-owned by Fidelidade, is recognized as a leader in Portugal’s private medical service sector, renowned for its service quality and innovation.

Nearly two decades of rapid global expansion

Following the European sovereign debt crisis triggered by the 2008 global financial crisis, the Portuguese government launched a series of major reforms, including state asset privatization, to manage public debt. This opened doors for Fosun, a leading Chinese private conglomerate spanning insurance, healthcare, consumer goods, and tourism.

In 2014, Fosun acquired Portugal’s largest insurance company, Fidelidade. Looking back, this acquisition was no coincidence but a strategic milestone in Fosun’s globalization journey.

Fosun’s globalization journey began in 2007 with its listing on the Hong Kong Stock Exchange and has since spanned nearly two decades. Today, Fosun operates across more than 40 countries and regions worldwide, building a diversified, resilient industrial portfolio while forging distinctive global operational capabilities.

Chen Qiyu, Co-CEO of Fosun International, said in the interview, “Our globalization journey has now spanned nearly 20 years. In Europe, our footprint includes Club Med, a French brand widely known globally. Additionally in France, we have established presence in luxury goods and fashion, pharmaceutical manufacturing, and pharmaceutical supply chains serving the African market. In the manufacturing industry, Fosun acquired FFT, a German company specializing in automotive production systems, to systematically support automotive industry upgrades.”

Winning global markets through global operations

Chen Qiyu said, “Among Fosun’s European operations, insurance represents the largest segment by scale. For example, our Portuguese insurance company Fidelidade has consistently held about 30% market share locally.”

In retrospect, Fosun’s acquisition of Fidelidade stands as a success story in China-Portugal economic and trade cooperation.

Jorge M. Correia, Chairman of Fidelidade, said, “Over the past 11 years, Fosun has provided the stability essential to our development, which I would consider crucial. With Fosun’s support as a shareholder, we have expanded overseas, particularly into Latin America. We now have operations in Chile, Peru, Bolivia, and Paraguay. Overseas markets accounted for just 5% of Fidelidade’s revenue at the time of Fosun’s acquisition. Today, it has risen to approximately 35%.”

Building industrial ecosystem, unlocking synergies

Leveraging its global footprint and extensive globalization experience, Fosun not only supported Fidelidade’s expansion beyond Portugal but also helped integrate local industries to build an industrial ecosystem and unlock synergies.

After acquiring Fidelidade, Fosun quickly expanded collaboration by acquiring Luz Saúde, Portugal’s leading healthcare provider.

This created an “insurance + healthcare” ecosystem, fueling synergistic growth for both companies. Luz Saúde’s Lisbon flagship hospital features world-class equipment, medical staff from around the world, as well as highly personalized, premium medical services.

Pedro Libano Monteiro, Executive Director of Hospital da Luz Lisboa, said, “When Fosun first acquired Luz Saúde, we immediately recognized the need to better serve diverse communities, particularly the Chinese community. For this reason, we have assigned dedicated staff to provide round-the-clock service for Chinese patients.”

He added, “Drawing on Chinese hospital expertise, especially Fosun’s hospital group practices, has proven both essential and highly valuable for us.”

From globalization to “glocalization”

Jorge M. Correia explained, “We often use the term ‘glocal’, which combines global and local. It embodies Fosun’s management approach: we pursue globalization in mindset, staying open to diverse environments, while prioritizing local execution led by local teams. This approach is highly effective.”

While achieving business success in Portugal, Fosun has also earned strong community reputation. It supported Luz Saúde’s hospital expansion, creating nearly 1,000 jobs locally, and applied digital expertise to drive digital transformation for its Portuguese companies, delivering convenient online services.

Beyond business, Fosun fully supports Fidelidade’s social contributions. Fidelidade, Luz Saúde, and the Fosun Foundation jointly launched the Protechting Open Innovation Program to help young people worldwide realize their dreams. In addition, the annual “Fidelidade Community Award” supports greater social inclusion for disabled individuals, making a profound and growing impact on Portuguese communities.

Through strategic European investments, global development, and localized operations, Fosun has gradually taken root and sustained growth locally. Looking ahead, whether over the next five years or beyond, Fosun remains optimistic and committed to its long-term development across Europe.

Jorge M. Correia concluded, “Fosun is not only a shareholder, but also a friend of Fidelidade and Portugal.”