China’s Great Fire Sale looks set to take off.
HNA Group Co., the indebted Chinese aviation-to-hotels conglomerate, told creditors it will seek to sell about 100 billion yuan ($16 billion) in assets in the first half of the year to repay debts and stave off a liquidity crunch, according to people familiar with the matter, who asked not to be identified because the discussions were private. Under the proposal, about 80 percent of that would be executed in the second quarter, according to the people.