Free Republic

HNA Group, the acquisitive conglomerate once synonymous with China’s global ambitions, has succumbed to its massive debt load and entered bankruptcy proceedings at the behest of its creditors. The Hainan-based company was served by its creditors on Jan. 29 in the provincial court to begin bankruptcy restructuring, the company announced on its WeChat board. Previously, a government-led effort to restructure its debts failed to sufficiently repay HNA Group’s creditors. It’s been a precipitous fall for one of China’s highest-profile conglomerates. HNA Group was established by Chen Feng, who worked for the civil aviation authority before starting Hainan Airlines, the flag...

On Sunday, the Wall Street Journal published a gripping account of fugitive billionaire Guo Wengui’s time in the United States and efforts by Chinese security services to apprehend him. The story is well worth the read and sheds light on how agents with China’s Ministry of State Security (MSS) — the country’s foreign and domestic intelligence arm — attempted to retrieve Guo in New York City, where he currently resides. (Guo has lived outside China since 2015.) Guo, who also goes by Miles Kwok, is something of a celebrity in the China-watching world for the spectacular allegations he’s gradually unveiled...