BEIJING — Fosun Group, one of China's largest privately-owned conglomerate, is planning to buy an American retail company.

Wang Qunbin, its president, made the revelation on the sidelines of a news briefing on Monday, but declined to give details.

He said Fosun is looking for more overseas acquisition opportunities in consumer brands and resources, adding that European, Japanese companies that are in innovative fields, such as pharmaceuticals research, are also possible targets.

"Our philosophy behind this is to marry China's growth momentum and the world's resources to create a strong combination," he said.

The group is trying to transform itself from an industrial group into an investment group, and expand its global investments, said Wang.

Established in 1992, Fosun Group has widely diversified operations in pharmaceuticals, property development, steel, mining, retail, services and strategic investments.

Last year, the company made 24 investments with its private-equity funds, ranging from finance and machinery to the Internet, according to a financial report by Hong Kong-listed Fosun International Ltd, the parent of Fosun Group.