Diplomatic Envoys to China Visit Fosun: Appreciating Oriental Lifestyle Aesthetics and Seeking Opportunities for Business Cooperation

Rhea-AI Summary

On June 18, 2024, over 40 diplomats, including ambassadors and consuls general from 26 countries, visited Fosun in Shanghai. The delegation toured the Grand Yuyuan, experiencing both the cultural heritage of old Shanghai and Fosun's global business achievements. Organized by China's Ministry of Foreign Affairs and Shanghai's Foreign Affairs Office, the event aimed to foster international business cooperation.

Fosun, a global innovation-driven consumer group, operates in over 35 countries across sectors like pharmaceuticals, culture & tourism, and finance. Diplomats showed interest in further business collaborations. Highlights included Fosun's achievements in pharmaceuticals, such as the global approval of their drugs HANSIZHUANG, HANQUYOU, and HANLIKANG, and their significant revenue from international markets, accounting for 45% of total revenue in 2023.

Fosun also showcased the Yuyuan Garden Lantern Festival and ongoing Grand Yuyuan project, aiming to develop this area into a major cultural and commercial hub. Diplomats expressed keen interest in participating in future cultural events and business opportunities with Fosun.

Positive

• Fosun operates in over 35 countries.
• Fosun’s overseas revenue in 2023 was RMB 89.2 billion, accounting for 45% of total revenue.
• Fosun’s HANSIZHUANG drug was approved in Indonesia in 2023.
• Fosun’s HANQUYOU drug was approved in the US in 2024.
• Fosun’s HANLIKANG drug was approved in Peru in 2023.
• Club Med, a Fosun subsidiary, operates in over 40 countries.
• Fosun has helped treat over 68 million severe malaria patients.
• Fosun Foundation hosts major art exhibitions and public education campaigns.

Negative

• No new financial data or projections were provided.
• The PR focuses heavily on cultural aspects, potentially diverting from core business metrics.
• High reliance on international markets could pose risks due to global economic uncertainties.

SHANGHAI, June 18, 2024 /PRNewswire/ -- Over 40 guests, including 10 ambassadors to China, 8 consuls general and other senior diplomats from 26 countries, visited Fosun on 14 June. The delegation toured along the Grand Yuyuan. From the intangible cultural heritage of the Old City of Shanghai to the vibrant modernity of the Bund, they gained a deep appreciation for how Shanghai has preserved its cultural legacy while continuously promoting high-quality development. They also gained an in-depth understanding of Fosun's development over the past 30 years as a global enterprise rooted in China.

The event was jointly organized by the Ministry of Foreign Affairs of the People's Republic of China and the Foreign Affairs Office of Shanghai Municipal People's Government, with an aim to offer an interactive platform for Chinese companies and diplomatic envoys to engage in exchange. Ambassadors to China from Thailand, Cameroon, Gabon, Democratic Republic of the Congo (DRC), Bangladesh and other countries, consuls general in Shanghai from Mexico, the Philippines, Singapore and other countries, and senior diplomats from Poland, Zimbabwe, Australia, Spain and other countries, participated in the event.

As a global innovation-driven consumer group, Fosun has established a profound business presence in more than 35 countries and regions, covering diverse sectors such as pharmaceuticals, culture & tourism, consumption, and finance. During the tour, the diplomatic envoys expressed strong interest in promoting cooperation between the two sides' companies in related fields.

Experiencing oriental lifestyle aesthetics in Yuyuan

At the Yuyuan Operatic Garden at Sea, foreign diplomats in China were immersed in an authentic experience of traditional Chinese folk arts and intangible cultural heritage. From decorating folding fans with calligraphy to paper cutting, hand-weaving Chinese knots, tea appreciation, making Nanxiang steamed buns, they were captivated by the charm of oriental lifestyle aesthetics.

A Yuyuan official expressed that as the flagship platform of Fosun's Happiness segment, Yuyuan has taken oriental lifestyle aesthetics as its top strategic focus. Yuyuan continues to refine the spiritual and cultural core of its brands and products by constantly enhancing their quality and innovation. At present, many IPs including the Yuyuan Garden Lantern Festival have won the love of people all over the world, especially young people.

The Yuyuan Garden Lantern Festival, a national intangible cultural heritage event, underwent continuous innovation and enhancement over the 2023 and 2024 editions. Taking the magnificent "Classic of Mountains and Seas" as the creative blueprint, and combining it with modern technology, the festivals successfully presented immersive lighting displays that embody the essence of oriental lifestyle aesthetics, refreshing visitors' understanding and experience of intangible cultural heritage lantern art. Prior to the Year of the Rabbit Lantern Festival in 2023, over 80 consuls and counselors from 51 countries in Shanghai gathered in Yuyuan Garden to enjoy the lanterns and experience China's excellent traditional culture. In 2024, the Year of the Loong, Yuyuan Garden Lantern Festival was held in both Shanghai and Paris. In Paris, the 72-day "Adventure of Mountains and Seas" attracted nearly 200,000 local French visitors and experienced a daily average foot traffic of more than 4,000 people.

At the event, foreign diplomats in China were deeply fascinated by Chinese culture and expressed their anticipation for the next Yuyuan Garden Lantern Festival.

Yuyuan's exploration of oriental lifestyle aesthetics remains an ongoing endeavor. In September 2022, Yuyuan officially announced the Grand Yuyuan project to the public. The series of detailed construction plans are now well underway. A Yuyuan official introduced to foreign diplomats in China that upon development of the "treasure" plot of the Bund in Shanghai, the Fuyou plot in Huangpu District, it will form the Grand Yuyuan together with the existing Yuyuan Tourist Mart, the Bund Finance Center (BFC), and Yuyuan Phase II project, encompassing functions such as culture, commerce, office, tourism, leisure, entertainment, and residence. In the future, Fosun and Yuyuan will join hands with partners to develop the Grand Yuyuan into a global fashion and cultural showground with the charm of oriental lifestyle aesthetics, turning it into the "main stage" for the international fashion industry to enter China as well as the "bridgehead" for Chinese fashion brands to go global.

Focusing on pragmatic cooperation to share the opportunities of globalization

Touring along the planned route of the Grand Yuyuan, foreign diplomats in China made their way from Yuyuan Garden to BFC, where they learned about Fosun's development as a global enterprise.

Fosun was founded in Shanghai in 1992. Since Fosun International's listing in Hong Kong in 2007, Fosun's globalization journey has spanned 17 years. It has now established a profound business presence in over 35 countries and regions, and its "global organization + local operations" model has become increasingly mature. In 2023, Fosun International's overseas revenue amounted to RMB89.2 billion, accounting for 45% of the total revenue.

Powered by technology innovation, Fosun has joined hands with overseas partners to continuously promote innovative drugs globally, benefiting more cancer patients. In December 2023, Fosun's independently developed HANSIZHUANG (serplulimab injection) was approved for marketing in Indonesia, becoming the first domestically-produced anti-PD-1 monoclonal antibody to be marketed in a Southeast Asian country. In April 2024, Fosun's independently developed HANQUYOU (trastuzumab injection) was approved for marketing in the United States, becoming the only monoclonal antibody biosimilar drug approved in China, the European Union, and the United States. This China-developed drug has now benefited patients in more than 40 countries and regions around the world. In addition, in South America, HANLIKANG (rituximab), which was independently developed and produced by Fosun, has also been officially approved for marketing by the Dirección General de Medicamentos, Insumos y Drogas (DIGEMID), a regulatory institution of the Ministry of Health of Peru.

Leveraging its strengths in pharmaceuticals, Fosun has actively helped improve the global public health system and contributed to building a global community of health for all in the course of its development. To date, a total of 33 Fosun's independently developed anti-malaria products have been approved by WHO pre-qualification (WHO PQ), serving more than 40 countries and regions. In particular, artesunate for injection has been recommended by WHO as a first-line treatment of severe malaria in children and adults, and has been used to treat more than 68 million severe malaria patients, becoming a symbol of China's innovative efforts in "helping Africa fight against malaria".

With years of experience, Fosun has deeply embedded its global operational capabilities across its major business segments. In the tourism sector, Club Med, a subsidiary of Fosun, currently has operations in more than 40 countries and regions across six continents and operates 68 resorts. With its high-quality services and vacation experiences, Club Med has won the favor of global travel enthusiasts.

In the finance sector, the Portuguese insurance company Fidelidade, a subsidiary of Fosun, not only maintains its leading position in the Portuguese market, but also continues to expand its business to overseas markets such as South America and Africa.

Fosun Foundation (Shanghai), located in BFC, is committed to promoting communication and exchange between Chinese and international art and culture. Blending Chinese and Western architectural elements, its golden rotating curtain has earned it the nickname "the dancing house". Fosun Foundation (Shanghai) has long hosted major contemporary art exhibitions and public education campaigns. On the "Bund's Most Beautiful Rooftop" of Fosun Foundation (Shanghai), foreign diplomats in China took their phones out to take pictures with the magnificent view of the Huangpu River.

At the event, many foreign diplomats in China expressed a strong desire to encourage more companies to engage in global cooperation. "Fosun is not only a participant in globalization, but also a beneficiary." A Fosun official said that Fosun welcomes companies from all countries to jointly promote pragmatic cooperation and seize the opportunities of the times.

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SOURCE Fosun

FAQ

What was the purpose of the diplomatic visit to Fosun on June 14, 2024?

The visit aimed to foster international business cooperation and appreciation of Shanghai's cultural heritage.

What sectors does Fosun operate in?

Fosun operates in pharmaceuticals, culture & tourism, consumption, and finance sectors.

What was Fosun's overseas revenue in 2023?

Fosun’s overseas revenue in 2023 was RMB 89.2 billion, accounting for 45% of its total revenue.

Which Fosun drugs gained international approval recently?

HANSIZHUANG was approved in Indonesia, HANQUYOU was approved in the US, and HANLIKANG was approved in Peru.

What is the Grand Yuyuan project?

The Grand Yuyuan project aims to develop a major cultural and commercial hub integrating culture, commerce, office, tourism, leisure, entertainment, and residence.

What cultural event did Fosun highlight during the visit?

Fosun highlighted the Yuyuan Garden Lantern Festival, a national intangible cultural heritage event.

How has Fosun contributed to global public health?

Fosun has developed anti-malaria products used in over 40 countries, with artesunate for injection treating over 68 million severe malaria patients.

What are some of Fosun's global business achievements?

Fosun has significant international revenue, operates Club Med in over 40 countries, and has achieved multiple international drug approvals.