U.S. ’s Chinese conglomerate HNA Group has turned to state-owned China Cinda Asset Management Co (1359.HK), among the country’s largest bad debt managers, for advice on asset disposals, people with knowledge of the matter told Reuters. China Cinda Asset Management is seeking advice from state-owned firm China Cinda Asset Management on asset disposals. Airlines-to-finance conglomerate HNA has been carrying out numerous asset sales, including real estate and stakes in hotel groups, as it combats rising debt and a crackdown by Chinese authorities on aggressive deal-making businesses. The company has so far sold nearly CNY300bn ($ $350 million ) in assets this year and is set to continue with disposals, according to chairman Jennifer Hughes .
U.S. ’s China Cinda Asset Management is seeking advice from state-owned firm China Cinda Asset Management on asset disposals. Airlines-to-finance conglomerate HNA has been carrying out numerous asset sales, including real estate and stakes in hotel groups, as it combats rising debt and a crackdown by Chinese authorities on aggressive deal-making businesses. The company has so far sold nearly CNY300bn ($ $350 million ) in assets this year and is set to continue with disposals, according to chairman Jennifer Hughes .