Guo Guangchang, chairman of Fosun International, is eyeing investment opportunities in European companies in both branded goods and in technology. [Provided to China Daily]

The company's investment is designed to help the Paris-based holiday company, which opened its first ski resort in Yabuli, Northeast China's Heilongjiang province, to set up a series of other resorts around China.

"As a result of our investment, we expect that Club Med will set up more resorts to serve Chinese consumers. We also expect more Chinese travelers will go to overseas resorts operated by Club Med," he says.

Guo, 44, who started his business in the 1990s and is reputedly one of the wealthiest persons on the Chinese mainland with a personal fortune worth 30 billion yuan (3.3 billion euros), says he intends to expand further through outward direct investment.

"We have grown through a series of strategic investments we have made in China. We know we can do these things well in China. The challenge for us now is to match that achievement in the rest of the world," he says.

Guo says his company, which was listed in Hong Kong in 2007, has ambitions to manage assets of 1 trillion yuan, a chunk of it overseas.

He says he is particularly attracted to opportunities in Europe, where he is eyeing companies in both branded goods and in technology.

"The European market is particularly attractive because of its strength in these areas. We are interested in investing in companies that deploy advanced manufacturing techniques and also in medicine and healthcare sectors," he says.

Guo says one target this year will be luxury consumer goods and food industry companies in Europe.

"We hope to make a number of investments in these areas this year."

Last year, the company made 24 investments through its private-equity funds, ranging from finance and machinery to the Internet, some of which were overseas.

"By going overseas we have the opportunity to learn from leading private equity firms which will make us more effective both at home and in international markets. If we just stayed in our home market, I don't think we could do this as easily."

Guo says he is an admirer of billionaire US investor Warren Buffett, who has a stake in Chinese electric carmaker BYD, and is regarded as a value investor.

"We very much appreciate this approach and try to maximize value from our investments," he says.

Guo insists that Fosun has an advantage over competitors in being able to offer opportunities in the fast-growing China market for the companies it invests in.

"It gives them a platform on which to expand and globalize their businesses."