The conglomerate first became a major shareholder in Europe’s largest investment bank in February when it reportedly acquired a 3% stake, increasing it to 4.8% in March.
The company, which now holds 9.9% of the bank, has indicated that its stake will remain below 10%.
HNA has overtaken the Qatar’s al-Thani family as the biggest shareholder. The Qatar royal family also increased their stake to just under 10% in July 2016.
Another major shareholder is BlackRock, which owns around 6%.
The German bank has struggled in recent years after incurring heavy losses and fines following legal probes and misconduct investigations.
However, the recent activity could lift confidence in Germany’s largest bank, one trader told Bloomberg.
HNA, which is privately run by billionaire Chen Feng, has been on an acquisition spree in recent years.
It recently bought a minority stake in Old Mutual’s US asset management business and been touted as a potential acquirer of Friends Provident International.
The group also owns stakes in airlines, hotels, and logistics firms.
According to Bloomberg, the stake in Deutsche Bank reflects a broader push by China into financial services globally, as Beijing encourages its corporate sector to expand overseas.
HNA’s political connections in China caused Anthony Scaramucci, the prominent critic of the US fiduciary rule, lose out on a role in the Trump White House.
He was denied the role of liaison to the business community due to potential conflicts of interest after his firm, SkyBridge Capital, was sold to the Chinese firm.