In a brief statement on Friday, the embroiled group said the two officers were “placed under mandatory measures” by the Hainan provincial police for suspected criminal offences.
It was not specified which laws were suspected to have been broken. In China’s legal system, “compulsory measures” by the police usually precede a formal arrest.
In a statement posted on social media on Friday, HNA said the firm and its subsidiaries were “operating in a stable and orderly manner, with the restructuring work proceeding in accordance with law.”
“Business operations have not been affected in any way,” he said.
HNA. asked about executive At a media briefing on Monday, a spokesman for China’s foreign ministry said he was aware of neither Tan or his case.
HNA began as an airline more than two decades ago, but rapidly evolved into another Lines of business over the years through foreign acquisitions as well as investments in real estate and finance.
At the request of the company, Province officials set up a “working group” with other agencies to resolve the company’s financial crisis.
However, even state-owned entities have not remained untouched by this. Along with other government entities, they appear to be the latest target in Beijing’s growing scrutiny of the behemoth, the financial sector.
The outlet said Zhao Leizhi, a top politician and member of the Communist Party’s Politburo Standing Committee, had urged financial institutions to take action to better meet the needs of the common people and avoid systemic financial risks.
In China, it is common for major companies to create internal organizations to ensure that their companies remain party compliant.
Institutions facing scrutiny include the country’s central bank, the top financial regulator, the Shanghai Stock Exchange and the so-called “Big Four” state banks.
– CNN’s Beijing Bureau, Laura Hay and Jill Disis contributed to this report.