Battles in the Boardrooms.docVIP

Battles in the Boardrooms 　　When billionaire Guo Guangchang， chairman of Fosun International， one of Chinas biggest privately owned enterprises， disappeared on December 11， 2015， it caused quite a stir. Guo， who is often described as “Chinas Warren Buffet，” reappeared three days later， and， according to a statement released by his company， had been “assisting in certain investigations”undertaken by Chinese authorities. 　　Guos detention came shortly after Yim Fung， chairman of Guotai Junan International， the Hong Kong wing of one of Chinas biggest brokerage firms， disappeared from public view on November 18， before resurfacing on December 24， alongside a similar announcement from his company which made a vague reference to “assisting with investigations.” 　　 High-profile 　　Guo and Yim are the latest executives to be implicated in China’s expansive anti-graft drive， which in recent months has extended into the financial sector. Launched after a sharp decline in the Chinese stock market in July， during which the domestic market plunged by more than 40 percent， several high-profile traders and officials involved in stock trading have been detained. 　　On November 1， the official Xinhua News Agency reported that Xu Xiang， a trading floor legend often compared to George Soros， had been arrested on suspicion of “insider trading and other offenses.”As the manager of hedge fund Zexi Investment， Xu had generated more than 300 percent in annual gains for two of his funds in 2015 alone at the time of his arrest， which stood in stark contrast to a meager 3 percent uptick in the Shanghai Composite Index over the same period. 　　In August and September， a total of 11 top executives， including company president Cheng Boming， employed by Citic Securities， Chinas biggest brokerage firm， were put under investigation for suspected insider trading. Citic Securities was one of the major securities companies tasked with rescuing Chinas stock market in the aftermath of the market’s shar