Fosun founder Guo Guangchang appears in public after police detention

Guo, did not say where he had been, or make any reference to the investigation

This photo taken on June 25, 2015 shows Guo Guangchang, the chairman of one of China's biggest private-sector conglomerates, Club Med owner Fosun, attending a conference in Hangzhou, in eastern China's Zhejiang province. Fosun said on December 11, 2015 its chairman Guo Guangchang was cooperating with judicial authorities over a reported corruption investigation (STR/AFP/Getty Images)

China’s eleventh richest man, Guo Guangchang, attended a company meeting in Shanghai on Monday, his first public reappearance since he was detained by Chinese authorities.

The chairman and co-founder of Fosun, one of China’s most famous global investment firms, was reported missing on Thursday when Chinese magazine Caixin claimed his colleagues were not able to reach him. His disappearance prompted Fosun, which has a market capitalisation of about $14 billion, to suspend trading in its shares on Friday.

Guo, described as China’s Warren Buffet, was reportedly assisting the Chinese authorities in an investigation, according to a company statement.

The billionaire made no reference to the investigation during the company meeting at a Shanghai hotel on Monday, focusing on the company’s strategy and performance instead, according to Reuters.

His disappearance last week is by far the most high-profile one in a string of mysterious incidents in China’s financial sector.

Earlier this month, two executives at Citic Securities disappeared, and last month Guotai Securities told the Hong Kong market that it was “unable to reach” its chief executive.

This followed the disappearance of Li Yifei, one of China’s most powerful business women in September. The chairwoman of Man Group China later said she was attending industry meetings and had then taken a 5 to 6 days trip to mediate.

Resuming trade on Monday, Fosun's Hong Kong shares plunged 13.5 per cent before recouping some losses, as investors remained wary a day after Fosun's president Wang Qunbin said all current deals were “proceeding normally” and the firm would buy back shares if stock prices fluctuated.

Guo, 48, has built an empire stretching from insurance and banking to healthcare and leisure, amassing a personal net worth of $5.7 billion (£3.75 billion), according to Forbes.

Additional reporting by Reuters