Algol
A simple aircraft serial number search would indicate that most of the aircraft ordered over the last 5 years by HKA are now with HNA. I would class that as credible evidence HKA has and is being used as a legal tax minimisation vehicle. How much Beijing tolerates this and for that matter most of the mainland companies that import business jets into China through the use of HK listed companies is open to debate but it is evident from their behaviour to date they don’t have an issue with it.