Speculation swirled over the fate of one of China’s most powerful tycoons, Fosun Group chairman Guo Guangchang, amid reports that he cannot be contacted. 
 
 Citing unidentified sources, mainland news outlet Caixin last night reported that the conglomerate could not contact Guo, dubbed China’s Warren Buffett, since noon and that it was still unknown whether he was detained on corruption charges or was assisting in probes into others. 
 
 Fosun International chief executive Liang Xinjun said in a Wechat group chat that senior executives were “handling the emergencies”, without elaborating, said a source at Fosun. 
 
 Calls made by the South China Morning Post to Fosun’s branding director Chen Bo and public affairs head Li Haifeng went unanswered. But two Fosun executives told the Post that the Caixin report was inaccurate and the company had reached Guo.“It’s a rumour,” said a Fosun executive who declined to elaborate, while another pointed out that it was unlikely that a man of Guo’s stature would be apprehended at the airport. 
 
 As news of the apparent disappearance broke on Friday morning, stocks of Fosun International and Shanghai Fosun Pharmaceutical suspended trading. Hong Kong listed Fosun International is the parent company and investment arm of Fosun Group. Subsidiary Shanghai Fosun Pharmaceutical is dual-listed in Shanghai and Hong Kong. 
 
 Mainland Chinese social media was abuzz with posts all day of Guo being handcuffed and whisked away after landing in Shanghai from Hong Kong. 
 
 A well-connected businessman, who cannot be identified, told the Post that Guo could be interrogated for his relationship with either Yao Gang, a vice-chairman of the China Securities Regulatory Commission, or Ai Baojun, a vice-mayor of Shanghai. Both are under investigation by the anti-graft watchdog. 
 
 Guo controls four companies listed on the mainland and four listed offshore, including Hong Kong-listed Fosun International, the group’s investment arm. 
 
 Starting with pharmaceuticals in the 1990s, Guo has emerged as one of China’s most prolific international dealmakers, snapping up everything from insurance companies to travel firms. Among his recent acquisitions are holiday group Club Med, America’s Meadowbrook Insurance Group and Ironshore, and Portuguese insurer Caixa Seguros. 
 
 “We are still in shock, although there have been similar rumours about him in the past as well,” one Fosun source said. “Guo is very cautious in his handling of the government. As he often tells us, stay close to politics, but stay away from politicians.” 
 
 Guo and his company were officially linked to a corruption case in August. He was alleged to have sold property below market rates to Wang Zongnan, former head of state-owned Bright Food Group, who was sentenced to 18 years in jail for embezzlement and bribery. There was no ruling against Guo himself. 
 
 In 2013, Guo’s Shanghai Fosun Pharmaceutical saw 7 billion yuan (HK$8.4 billion) of market capitalisation evaporate in a day after rumours that the authorities had restricted his movements. 

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 Media playback is unsupported on your device Media caption Footage of Guo Guangchang first broadcast May 2014: The company founder who wants to be Warren Buffett 
 
 One of China's richest men, Guo Guangchang, has been detained by police. 
 
 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. 
 
 It was not clear why police had detained him. 
 
 Image copyright Reuters Image caption In February this year Fosun, finally clinched control of the French holiday group Club Med 
 
 Earlier, a source close to the Fosun Group had told the BBC: "It's very likely he's been asked by the Chinese authorities to co-operate in an investigation. He is not being investigated himself." 
 
 He declined to speculate about the details of the investigation. 
 
 Sally Yim, senior credit officer at Moody's Investors Service, said: "Guo is one of the high-profile Chinese entrepreneurs and this incident will raise eyebrows among foreign regulators, as Fosun has been aggressively expanding its global insurance footprint. But it is too early to say how this incident will impact Fosun's operations." 
 
 Mr Guo was linked to a corruption court case in August. 
 
 Media playback is unsupported on your device Media caption Growing numbers of executives in China are going missing 
 
 BBC Asia-Pacific analyst Michael Bristow says Mr Guo's empire extends across the world, while Forbes magazine estimates his fortune at $7bn (£4.6bn). 
 
 Fosun Group has interests spanning media, insurance, real estate and retail. It recently took control of French holiday group Club Med. 
 
 Fosun International, the parent company of Shanghai-based Fosun Group, was listed in Hong Kong in 2007. 
 
 Fosun profile 
 
 Image copyright Getty Images 
 
 Mr Guo launched Fosun with a group of fellow students in 1992. 
 
 Headquartered in Shanghai, Fosun's initial success came from pharmaceutical and real estate investments. 
 
 The firm's business interests and investments now include insurance, industrial operations, real estate and asset management, among others. 
 
 After nearly two years of takeover efforts, Fosun finally clinched control of the French holiday group Club Mediterranee in February. 
 
 Today, the conglomerate has a wide range of international investments including Greek fashion brand Folli Follie and the Chase Manhattan building in New York. 
 
 Last year, Mr Guo told the BBC of some of the difficulties the private enterprise had faced over the years doing business in China. He said when China's banks were all state-owned that it had been hard to secure long-term loans. 
 
 Fosun International posted a 24% rise in profit for the year to December 2014 to 6.8bn yuan ($1.1bn). 

 Chairman of Fosun group, Guo Guangchang – known as China’s Warren Buffett – was thought to be missing but was later discovered to be in police custody 
 
 A billionaire known as China’s Warren Buffett has become the most high-profile business figure to be caught up in the country’s anti-corruption drive. 
 
 Fosun group, China’s largest private-sector conglomerate, has confirmed that its chairman, Guo Guangchang, has been detained by police and was helping authorities with an investigation. 
 
 Fosun, which boasts assets including the landmark One Chase Manhattan Plaza in New York, had been unable to reach Guo since noon on Thursday, according to the local business magazine Caixin, which cited anonymous sources. 
 
 Trading in shares in the group was suspended in Hong Kong after Guo’s disappearance, Fosun said in a statement. It will resume on Monday. “The company understands that Mr Guo is currently assisting in certain investigations carried out by mainland judiciary authorities,” it said. 
 
 It remained unclear whether Guo was under investigation or assisting investigators. 
 
 “We are still in shock,” one source at Fosun was quoted as saying by Hong Kong’s South China Morning Post. “Guo is very cautious in his handling of the government. As he often tells us, stay close to politics, but stay away from politicians.” 
 
 Fosun is due to hold its annual meeting on Monday, where Guo usually makes a speech, Chinese news portal Sohu said. He was being questioned in connection with an investigation into the former Shanghai deputy mayor and director of the Shanghai free trade zone, Ai Baojun, it added. 
 
 In social media posts on Thursday cited by Caixin, witnesses claimed to have seen police taking Guo away at a Shanghai airport after he flew into the city from Hong Kong. Guo’s account on Weibo, China’s Twitter, had been scrubbed of all posts by Friday morning. 
 
 Guo is China’s 17th richest person, with a net worth of $5.6bn (£3.7bn), according to Bloomberg News. He is a member of the Chinese people’s political consultative conference, a debating chamber that is part of the Communist party-controlled governmental structure. 
 
 Reports of Guo’s disappearance come amid a corruption crackdown that has spread through the nation’s finance industry in the wake of this year’s stock market debacle. 
 
 China’s financial watchdog, the securities regulatory commission, has stepped up investigations into local brokerage firms in recent weeks. 
 
 In August, the Fosun chairman was put under the spotlight when he was named in a corruption court case in Shanghai. According to state media reports, Guo was suspected of granting favours to an executive of a Chinese state-owned company in exchange for unspecified benefits. 
 
 On Sunday, China’s largest brokerage, Citic Securities, said it had been unable to contact two of its top executives. 
 
 At 48, Guo is one of China’s most powerful tycoons. Guo is the biggest shareholder in Fosun, which he founded with three classmates from Shanghai’s Fudan University. 
 
 Fosun has interests in industries as varied as pharmaceuticals, property, mining and even entertainment. The company has become a major international player, snapping up high-profile assets including Club Med, Cirque du Soleil. 
 
 Agence France-Presse contributed to this report
– One of China's richest men is missing. The developing story is fairly murky: Employees of Fosun Group, which owns Club Med and Cirque du Soleil and is run by billionaire Guo Guangchang, say they've been unable to contact their boss since noon Thursday. Guo—known as "China's Warren Buffett" with a fortune estimated at $7 billion—hasn't responded to messages sent on an internal company-wide app, per the BBC. An update on the story from South China Morning Post cites two Fosun officials who say Guo has been permitted to make phone calls but otherwise has limited personal freedom. Caixin previously referenced social media messages noting the billionaire was seen in the company of police at a Shanghai airport after he flew in from Hong Kong. If true, the Morning Post reports it's unclear whether he might have been reeled in on corruption charges or is participating in the investigation of others. Police haven't commented, but Guo was accused of granting favors to an executive of a Chinese state-owned company back in August, notes the Guardian. That exec was sentenced to 18 years in jail for embezzlement and bribery. "We are still in shock," a Fosun source tell the South China Morning Post. "Guo is very cautious in his handling of the government. As he often tells us, stay close to politics, but stay away from politicians." The Morning Post reports the company plans to make a public statement shortly.