Caixin
Feb 24, 2012 05:00 PM

Fosun President Arrested on Allegations of Personal Misconduct

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(Beijing) – Chen Shuiqing, president of Shanghai Fosun Investment Co., Ltd., was detained by China's public security bureau February 23 on suspicion of personal misconduct.

Shanghai Fosun Group, parent company of the Fosun Investment, is a leading listed investment company in China. In a press statement released today, the company confirmed Chen stepped down from his position as president and stated Xing Shiping, vice president of Fosun Investment, will take his place.

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