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HNA Unit to Set Up $3.2 Billion ‘Belt and Road’ Funds

A HNA office building in Qingdao, East China's Shandong province. HNA said its two new funds would invest in “strict accordance with guidelines of the nation’s ‘Belt and Road’ development, including support of ‘Belt and Road’ infrastructure in interior China, Hong Kong, Macau, Taiwan and Southeast Asia.” Photo: IC
A HNA office building in Qingdao, East China's Shandong province. HNA said its two new funds would invest in “strict accordance with guidelines of the nation’s ‘Belt and Road’ development, including support of ‘Belt and Road’ infrastructure in interior China, Hong Kong, Macau, Taiwan and Southeast Asia.” Photo: IC

A unit of HNA Group, one of several Chinese conglomerates that has come under scrutiny following massive global buying sprees, said it will set up two funds with 20 billion yuan ($3.2 billion) to promote Beijing’s “Belt and Road” program for infrastructure development in emerging markets.

HNA Capital Group Co. announced the funds’ establishment in conjunction with its signing of a strategic cooperation agreement with China Asia Pacific Assets & Property Rights Exchange Ltd., a Hong Kong company engaged in intellectual property exchange, the company said in a statement.

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