Deals
HNA Is Victim of Conspiracy Against China: Co-Chairman
- Wang Jian denies group is facing mounting debt challenges
- Defense comes as HNA Group’s borrowing costs have soared
Bocom Strategist Hao Hong Weighs in on Deepening HNA Crisis
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HNA Group Co.’s second-most-senior executive argued that the group is a victim of a conspiracy against the Chinese government and one of the country’s most loyal companies, according to a speech to fellow board members.
In the Feb. 3 speech, Co-Chairman Wang Jian said recent attacks came from "reactionary forces from both China and overseas countering China’s rise, and are a major conspiracy against the Communist Party Central Committee with Xi Jinping at its core," according to a transcript of the speech distributed to employees, a copy of which was seen by Bloomberg. The aim is to disrupt China’s financial markets and subvert Chinese communist rule, according to the document.