China’s Fosun aims to invest $3.2 billion in technology over three years

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HONG KONG (Reuters) – Acquisitive Chinese conglomerate Fosun International, which owns Club Med and Cirque du Soleil within its broad portfolio, said on Wednesday it aims to invest 20 billion yuan ($3.19 billion) in technology in the next three years.

Fosun Chief Executive Wang Qunbin was speaking after the company on Tuesday said full-year profit jumped 28.2 percent to a record high, its fastest growth in four years.

He added investment in technology is expected to reach 100 billion yuan in the next ten years.

Reporting by Julie Zhu; Editing by Himani Sarkar

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