The Hainan government has moved to take direct control of HNA Group with the appointment of two state officials to leadership roles on the company’s board, according to announcements over the weekend by the financially troubled aviation and investment conglomerate.
Hainan Government Said Taking Over HNA as Virus Dents Cashflow
The Hainan government is said to be planning to take over HNA Group and sell off its airline assets, as the indebted conglomerate’s ongoing struggles to meet its financial obligations reach a crisis point.
The provincial government has been forced… Read More>>
HNA Seeks to Raise RMB 2.7B From Sales of Shanghai, Sanya Hotels
HNA Group is putting up for sale a pair of hotels, one each in Shanghai and in Hainan province, as the financially-troubled mainland fights to stay solvent.
The two hospitality properties, both of which are fully completed and operational, could… Read More>>
Govt Cracks Down on Illegal Villas and More China Real Estate Policy News
The latest regulatory wave in China involves the central government’s hard line on illegal villa developments, as Mingtiandi’s round-up of China regulatory news finds Evergrande, Country Garden and other developers paying the price for building illicit luxury projects in Hainan,… Read More>>
NDRC Rules Out Hukou Restrictions in Small Cities and More China Policy News
Editor’s note: This article provides a round up of recent regulatory moves in mainland China, along with insights into the impact that these new measures may be having on the market. This new element of Mingtiandi now appears on the… Read More>>
Developers Defy Commercial Home Sales Ban and More China Policy News
Editor’s note: This article provides a round up of recent regulatory moves in mainland China, along with insights into the impact that these new measures may be having on the market. Mingtiandi introduces this new element of the site today,… Read More>>
China’s State Council Loves Hello Kitty and Her $1.6B Pink Hainan Theme Park
Hello Kitty has officially climbed on board China’s official “reform and opening up” bandwagon, adding an animated Japanese element to the government’s much ballyhooed agenda for advancing socialism with Chinese characteristics.
China’s State Council even held a press conference to… Read More>>
HNA Confirms Fire Sale List of $1.1B More in Mainland China Assets
Financially troubled mainland conglomerate HNA Group has now disclosed that it is seeking to unload a set of domestic assets worth RMB 7.6 billion ($1.1 billion), according to local media reports citing public statements by officials representing the parent company of… Read More>>
HNA Said to Sell Hainan Site to Sunac for $125M
HNA’s sales of European and US assets have been grabbing headlines internationally, but the indebted Chinese conglomerate is also selling assets closer to home, including this week selling the site of its former corporate headquarters, according to accounts in the… Read More>>
HNA Said Selling $46M Wuhan Logistics Park to Hopu, Haikou Supertall to Poly
China’s embattled HNA Group is continuing its series of asset disposals with its sale of an 80 percent stake in an uncompleted Wuhan logistics project to an affiliate of superinvestor Fang Fenglei’s Hopu Capital for RMB 312 million ($45.8 million),… Read More>>
