China's Private Firms Warned of Slowing Growth, Urged to Expand Overseas Amid Debt Crisis
• China's private firms warned economic 'runaway growth days are over' amid debt crisis, urged to thrive overseas
• Private investment dropped 0.5% in first 11 months of 2022; private property developers heavily exposed to debt crisis
• Fosun Group founder Guo Guangchang said high-debt business models vulnerable when Beijing tackles risks
• Guo encouraged more Chinese firms to expand internationally, derive profits by selling globally
• Entrepreneurs will still actively explore overseas business opportunities despite economic difficulties