This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here


China’s leading investment company Fosun Group (Fosun) and financial services leader Prudential Financial, Inc. (PFI) (NYSE: PRU), which does business as Pramerica in selected countries outside the U.S., announced today an expansion of their strategic relationship, building on their existing joint venture partnerships in life insurance and investment management, and focusing on key areas of growth in China.

The two companies, which began working together in 2011, intend to launch a real estate joint venture to invest in mixed use development projects in growing urban centers in China. PFI will also move its China headquarters into the Bund Financial Center, which is scheduled to open in 2015. In addition, both companies plan to work together to develop a retirement platform with products, services and educational resources that help Chinese individuals and families in retirement better cope with the challenges and those who are contemplating retirement prepare for it with security and peace of mind.

Fosun and PFI anticipate investing in and developing mixed use projects through a combination of proprietary and third-party capital. Both companies also expect to work together on real estate projects outside of China.

Fosun will also offer education and planning tools, as well as retirement benefits, to certain long-term employees of the company.

Guo Guangchang, Chairman of Fosun Group, said: “In a very short time, PFI has become an important strategic partner for Fosun, as we expand our global footprint. The growth of China’s urban centers and aging of our population present significant opportunities for our two companies to help address economic and development issues of critical importance to China, drawing from our respective strengths in real estate, investment management and retirement. We also believe we have a responsibility to help our employees save for retirement, and that is why we are making a new benefit program available to them.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs