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