Fosun buys into China's Fanhua distribution network

Fosun's industrial unit has invested about $29.2mn in China
financial services provider Fanhua to build demand for Fosun
insurance products in one of the world's largest economies.
The investment by Fosun gives the financial services and
insurance provider a 5.3 percent stake in Guangzhou-based Fanhua,
formerly known as CNinsure and comes with an agreement to
collaborate in certain business areas, including insurance.
"Fanhua expects to strengthen business cooperation with
Fosun's affiliated ins