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 .
China’s HNA Group 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 ($43bn) in assets this year and is set to continue with disposals, according to chairman Chen Feng.