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High-flying HNA gets wings clipped amid crackdown on foreign deals

Conglomerate's long-term strategy of debt-fuelled growth is fraying, compounding its problems

HNA Group, which controls 19 listed companies, reported that total debt doubled to 717.99 billion yuan at the end of June from the end of 2015. Total assets increased 157 per cent to 1.21 trillion yuan.


HNA Group, the high-flying Chinese conglomerate caught in the cross-sights of Beijing, has hit turbulence as deals stall and scrutiny of its finances and shareholding structure intensifies.

Beijing's clampdown on highly-leveraged foreign investment has led to more...

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