China to manage HNA debt as virus outbreak hits travel industry

China to manage HNA debt as virus outbreak hits travel industry

Signage for HNA Group Co. is displayed atop the company's building in Beijing, China, on Thursday, Feb. 1, 2018. Photographer: Giulia Marchi/Bloomberg

China took over management of HNA Group Co.’s liquidity risks after the coronavirus outbreak hit the travel industry and the indebted conglomerate’s main source of income, a sign the government is taking more dramatic steps to contain the fallout for business from the epidemic.

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