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China debt crunch

HNA bankruptcy reaches turning point, putting $170bn size on debt

Chinese conglomerate's restructuring expected to conclude in November

HNA Group -- a web of subsidiaries spun around a core airline business -- has finally recognized the overall size of its liabilities.   © Reuters
KENJI KAWASE, Nikkei Asia chief business news correspondent | China

HONG KONG -- China's embattled HNA Group revealed on Thursday that it owes $170 billion to creditors, marking a turning point in the government-led restructuring of one of China's highest-profile bankruptcy cases.

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