The Shanghai Fosun High Technology (Group) Co Ltd, a private conglomerate, plans to invest in the United States' oil and natural gas sector as a strategic move amid growing Chinese energy demand.

Chief Executive Officer Liang Xinjun said the company believes it's a good idea to invest in the US, because the fast development of that nation's energy industry amid a supportive policy environment can lead to profitable investments.

He told China Daily that the company had been seriously considering investing in upstream energy businesses in the US for three to four years. He declined to release any timetable for the investment plan.