Some of the systemic risks in the Chinese economy have arguably eased since President Xi Jinping ordered a crackdown, late last year, on the excessive use of debt finance by some private companies.
HNA Group epitomises this shift in the political winds.
Stepping up efforts to clean up its balance sheet by paying down debt and selling overseas assets, the Beijing-headquartered aviation-to-hotels conglomerate has now made its second land sale to a Hong Kong property developer in less than a month.
Having recently...
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