August 19，Liang Xinjun, Vice Chairman and CEO of Fosun Group, said: “This year we will list out projects with total assets of more than 20 billion related to tourism scattered in various sectors of Fosun Group，Build a platform that can be listed independently in the next 2 to 3 years。”This means that Fosun Group’s territory in the tourism industry is gradually becoming clearer。

Fosun Group was established in Shanghai in 1992，2007，Fosun International(00656.HK) is listed on the Main Board of the Hong Kong Stock Exchange。Focus’s territory mainly focuses on the two major sectors of comprehensive finance and industrial operations，Comprehensive financial field covering insurance、Securities、Investment、Asset Management、Banking and other services，Industrial operations are mainly focused on big health、Happy Fashion、Internet，In addition, there is steel among traditional industries、Real Estate and Mining，The happy fashion sector includes tourism investment、Entertainment investment, etc.。

Fosun Tourism is led by trader Qian Jiannong，Five-year journey，Invest in Club Med，Invested in China International Travel Service，Develop Atlantis large resort hotel in Sanya，In 2015, he invested in Thomas Cook, a British travel group, etc.，Gradually establish the prototype of Fosun Group’s empire in the tourism sector。

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sorted by Zhihui，Fosun’s tourism sector listing plan actually took 15 years of planning and layout:

sorted by Zhihui，Fosun’s tourism sector listing plan actually took 15 years of planning and layout:

二、Fosun’s practice of “China’s power coupled with global resources” model in the tourism industry

1. What is Fosun’s “Chinese power grafting global resources” model

In 2011, Guo Guangchang gave an introduction to "China's power grafting global resources" in an interview 188bet app download with reporters: investing funds from low-cost sources into areas that can produce the best returns，And investment management。The Chinese market has become or will soon become the world’s largest market in many industries，The so-called Chinese power grafting global resource model，It is the leading overseas company in the investment industry，And help them develop in China。To put it simply，Take money from Wall Street、Entering the Chinese market、Entering the Chinese market。

The financial crisis caused by the subprime mortgage crisis in 2007，The European and American debt crisis that continued in 2010 not only brought a cold winter to the world economy，It also stagnated the growth of major European and American economies，Thus leading to low growth in consumption power。

The most direct market feedback on the sluggish consumption is that many outstanding companies, mainly in the European and American markets, face challenges or even stagnation in their profit growth，As a result, pricing in the capital market dropped。But a good company with a long history，The quality products and services are still there，Fosun Group invests in high-quality overseas companies in such an environment，Become its first、The second largest shareholder，Then cooperate to develop the Chinese market，Making full use of the rapid growth of the Chinese market，Driving the Chinese economic growth of European and American enterprises，At the same time, it brings new economic models and new vitality to the Chinese market。

2. China’s tourism industry grafted with global resources

Overview of its domestic and overseas layout，It is not difficult to find Fosun Group’s overseas investments and acquisitions，In fact, it is its first step in the field of tourism, leisure and vacation，Revitalizing foreign high-quality tourism development models，Regrafted into China’s local tourism, leisure and vacation sector。

Fosun’s 2015 annual report disclosed in March 2016，As of December 31, 2015，Fosun Group’s total assets reached 4053.400 million yuan，24 year-on-year increase.8%；Fosun’s net assets attributable to shareholders of the parent company reached RMB 752.500 million yuan，An increase of 52 compared with the end of last year.3%，Net assets attributable to shareholders of the parent company per share are RMB 8.74 yuan，Year-on-year growth of 22.5%，The compound annual growth rate of net assets attributable to shareholders of the parent company in the 11 years since 2004 has reached 43.1%；Profit attributable to shareholders of the parent company is RMB 80.400 million yuan，17 year-on-year increase.3%。

Plenty among them、The total assets of the three major sectors of health and happiness reached 3,033.800 million yuan，The proportion of the group’s total assets increased 188bet Online Sports Betting and Casino to 74.8%，Expanded by 11 compared with the end of 2014.6 percentage points；Net assets increased to RMB 443.100 million yuan，The proportion of the group’s net assets increased to 45.1%，An increase of 77 compared with the end of 2014.2%；Operating income has reached RMB 386.700 million yuan，84 year-on-year increase.6%，Accounting for 49% of the group’s total revenue.1%；Profit attributable to shareholders of the parent company reaches RMB 76.600 million yuan，47 year-on-year increase.7%，Accounting for 95% of the group’s profit attributable to shareholders of the parent company.3%。

From the promotion of its investment brands in the Chinese market，Then to the Chineseization of overseas tourism economic model，From copying to innovation，Combining local characteristics and Chinese people’s travel consumption habits，Formation of new tourism products，Fosun Group’s tourism, leisure and vacation strategy is moving smoothly。

3. The specific approach of “grafting China’s power with global resources”

According to Zhihui’s understanding，Fosun promoted 8 projects in A-share or H-share IPOs in 2015，4 projects listed on the New Third Board，At the same time, profit-making exit of some projects was achieved: Focus Media project was withdrawn 5.USD 500 million；BHF project exit and recovery 2.200 million euros；The exits of Changyuan Group and China International Travel Service respectively recovered RMB 10.100 million yuan and RMB 9.300 million yuan。

Fosun and the funds it manages invest in the Internet field covering digital health、Internet travel、Online education、Internet Finance、Mobile social networking and other industries，And also has a layout in the traditional industry grafting mobile Internet field。Invest in Club Med, etc. from overseas，To recover funds and build the Atlantis Hotel in Sanya, etc.，Fosun Group takes every step accurately and skillfully，Have obtained immediate benefits，Paves the way for future cooperation and mergers and acquisitions，Step by step，Promote your own tourism industry layout。

In addition to accelerating the expansion of Club Med in the Chinese market，Fosun has also increased investment in human and material resources in the tourism business field。As early as 2013, Guo Guangchang pointed out in an interview，The reason why Fosun began to increase investment in the tourism business，Mainly to adapt to some changes taking place in China，If people want more experiential economy。With the increase of income，The demand for tourism education consumption is also increasing，So Fosun will adapt to these changes，Focus on industrial upgrading and urban function upgrading。Reviewing Fosun Group’s tourism industry layout，It is not difficult to see that Fosun Group is making progress in the field of tourism, leisure and vacation，Acquisition 188bet app download from one-stop tourist resort，Copy and self-build，Transportation to inbound and outbound travel，Entertainment，Shopping etc.，Fosun Group is building its own tourism industry chain step by step，Gradually enter the tourism, leisure and vacation market。

3. Opportunities and challenges faced by Fosun’s tourism industry layout:

1. The large domestic tourism market and policy support are opportunities

Opportunity 1: Leisure travel and vacation will be a big market in the tourism industry

Under the new economic normal environment，Leisure travel becomes a trend，As a travel planner，Concentrated on the rise of resort-style tourism for leisure。As a travel planner，Must adapt to the market demand of in-depth tourism，Start with tourist experience，In tourism planning and design、Landscape Construction、Travel services, etc.，Think fully about leisure、Aesthetic needs。

China’s leisure and vacation tourism market is a 400 billion market，It is also a major future trend and market that many people in the tourism industry are optimistic about。Fosun Group is step by step to revitalize global resources and graft the Chinese market，In fact, we are building a link for the entire tourism industry，Realize one-stop travel in China，From outbound travel to inbound travel；Change the Chinese people’s casual travel habits，Realize the leisure and resort-style travel experience in the high-end tourism market。

Opportunity 2: China’s tourism industry has entered the stage of investment, M&A and integration

China’s economy has developed over the years，Simple、Extensive、Inefficient growth methods are a thing of the past，Starting a slow decline since 2010，Now it has entered the "L"-shaped development stage，In the future, the development of various economic fields in our country will mainly rely on industry mergers and acquisitions、Technological innovation and dataization are endogenously driven，The tourism industry is no exception。Fosun Group searches for high-quality targets around the world，Start investment and mergers and acquisitions、Integration，More efficient。

2. Consumption upgrade and other challenges caused by the market environment:

Challenge 1: How to satisfy the diverse Millennials、New personalized needs

In recent years，With the rise of Millennials (born 1984-1995)，The personalization and experience of tourism are gradually being raised to a higher level，They like mobile、Personalization、Experiential travel method，What’s more important is that they arise with social media，Like to make decisions by yourself，Freedom，Leave as soon as you say，And willing to share，Native in social networking。

Millennials value travel destinations 188bet sports betting app download more during travel consumption、Travel experience, etc.。This group has 2 in China in 2015.700 million，14% of the total population。They grow with the rapid development of the Internet，Is a fan of technology products，More than 92% own a smartphone，Check your phone more than 150 times a day，The average time spent online every day is 6.37 hours。

Over time，Millennials will be 30-41 years old in ten years，Most of them are already married and starting a business，Become the absolute main consumer in this society。Whether the tourism products and tourism service experience on the tourism resource supply side can meet their personalized and experiential needs will be a major challenge that Fosun Group needs to consider in its layout in the tourism industry。

Challenge 2: Popularization of mobile Internet，Matching degree of online and offline resources

With the continuous development of technology，Mobile terminals will become more and more popular。The matching of tourism O2O online and offline resources will be a challenge that must be faced by the development of the tourism industry in the future。Reviewing Fosun Group’s layout in the tourism industry，It is not difficult to find that Fosun has a great advantage in the supply side of upstream resources，But with the rapid popularity of mobile Internet in the future，How to match online travel resources with offline consumption，It will be a major challenge that Fosun will face in the process of changing tourism products。

Challenge 3: The risk of grafting power to global resources

Under the pattern of economic globalization，China’s tourism industry has also embarked on the road of internationalization。Domestic OTAs are expanding overseas，Outbound travel is hot，Chinese companies are also constantly trying to introduce overseas tourism resources into China，Improving China travel experience，Promote the activity 188bet online sports betting of China’s tourism market，But due to differences in market culture, etc.，There are problems such as resource misallocation。

Qianyou Tianlun Resort Development Co., Ltd. introduced France"Timeshare"Travel products，Because of the acclimatization in China，Accused of being a scam；Later, there is a lack of understanding of the market，Expedia, which has management problems, sells 62 shares for US$400 million.4% equity of eLong，For a long time, overseas Internet companies have failed in the Chinese market。

Looking deeply, it’s all about being dissatisfied with the Chinese market，So even Fosun Group, as a local enterprise, cannot take it lightly，After all, the success of grafting global resources on power，Not only relying on novel and unique brand management，Also attributed to the inclusiveness and openness 188bet online sports betting of China’s tourism market，And the strong consumer demand in China’s surging development。

Localization adjustment of tourism products is a long process，Temporary safety and prosperity，Does not mean long-term matching success；Western religious and cultural differences，And the special customs of the East are all issues that must be considered in the process of grafting global resources with power。It can be seen from this，The incompatibility of grafting global resources is one of the challenges that Fosun Group must face when deploying the tourism industry。

Challenge 4: Competition among the eight major tourism groups and international enterprise competition in the future

Zhihui founder and CEO Liu Zhaohui once predicted，China’s tourism industry will form a maritime and maritime system in the future、Jinjiang Department、Wanda series、Ctrip Department、Full Galaxy、Alibaba、Beijing Travel Department、The situation where the eight major Chinese tourism giants such as Xinmei University and Xinmei University stand side by side。

So for Fosun Tourism，No matter whether it is listed in the future or not, it will face competition among giants，How to use your own advantages，Seizing opportunities and taking the lead in the tourism market is the challenge Fosun will face。Secondly，As China moves toward internationalization，And the Chinese market is favored by international companies，Competition between domestic companies and international companies is also a challenge that Fosun must face in its tourism industry layout。