Chinese tycoon detained

One of China's richest men, Guo Guangchang, has been detained by police, reports BBC.
His company, Fosun International, confirmed on Friday that he was assisting authorities with an investigation. The confirmation followed reports that he had gone missing.
Financial magazine Caixin said that staff at Fosun had been unable to contact Mr Guo since Thursday afternoon.
Fosun, one of China's biggest private conglomerates, halted trading of its Hong Kong shares following the reports. The company said that its shares would resume trading on Monday. Fosun said that Mr Guo, 48, who has been described as China's Warren Buffett, was still able to be involved in major decisions.

Chinese tycoon detained

One of Chinas richest men, Guo Guangchang, has been detained by police, reports BBC. His company, Fosun International, confirmed on Friday that he was assisting authorities with an investigation. The confirmation followed reports that he had gone missing. Financial magazine Caixin said that staff at Fosun had been unable to contact Mr Guo since Thursday afternoon. Fosun, one of Chinas biggest private conglomerates, halted trading of its Hong Kong shares following the reports. The company said that its shares would resume trading on Monday. Fosun said that Mr Guo, 48, who has been described as Chinas Warren Buffett, was still able to be involved in major decisions.