Fosun International, one of China's most acquisitive conglomerates, is betting big on cementing its role as a "global value investor" in a more progressive and sophisticated manner, in a sign of its determination to bolster the country's vision to develop the next growth engine.

China's outbound investment drive first started as a need for raw materials and energy to ensure its old growth model functioning effectively.

Today, domestic purchasers have their eyes trained on brands, expertise and cutting-edge technology that China needs in order to refocus from an export-driven, investment-intensive economy to a consumption-led, innovation-fueled new growth model.

Fosun, which made its fortune initially from pharmaceuticals and real estate from 1992, and developed into a business empire with a market value of HK$108.5 billion ($13.9 billion), has been riding high on such a trend, Guo Guangchang, executive director and chairman of Fosun International, said at a news conference in Hong Kong on Thursday.

The Shanghai-based company, which has stakes in Portugal's biggest listed bank Millennium BCP and largest insurer Fidelidade, French resort chain Club Med and margarine maker St Hubert, is a poster child for deep-pocketed mainland investors seeking deals across the world.

Fosun will continue to develop as a value investor in Europe, the Americas and emerging markets, and encourage its business units to seek separate listings to improve the transparency of its operations and management, said Wang Qunbin, executive director and chief executive officer of Fosun International.

The Chinese government has tightened its regulation of overseas deals and has banned outbound direct investments in sectors including real estate, hotels, entertainment, sports and casinos to avoid investment risks or potential crime.

Guo denied that Fosun has been investigated by the regulators and said "Fosun's investments are in line with the regulations."

sophia@chinadailyhk.com