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.
- 1Update: China Demands Answers for Swedish Police’s ‘Brutal’ Treatment of Tourists
- 2China Could Ban Exports of Products Crucial to U.S. Manufacturers, Former Finance Minister Says
- 3 State-Owned Firms to Build $6.5 Billion Petrochemical Refinery in Alberta
- 4Bad Bank’s New Boss Begins by Erasing Fallen Predecessor’s Legacy
- 5Merck Slashes Key Cancer Drug Price for China
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas