China Evergrande delisted from HK stock exchange - Taipei Times

AFP reports on China Evergrande Group's delisting from the Hong Kong Stock Exchange, marking another significant milestone in the Chinese property sector crisis.

The once-dominant property developer, previously worth over $50 billion at its peak, was officially removed from trading after failing to meet resumption deadlines. Evergrande defaulted in 2021 and received a court-ordered liquidation in January 2024, with debt exceeding the previously estimated $27.5 billion. The company's collapse symbolizes broader challenges facing China's property market alongside other major developers like Country Garden.

• Evergrande's delisting caps years of financial struggles since its 2021 default on massive debt obligations
• Liquidators have assumed control of over 100 companies within the group while pursuing creditor recovery efforts
• The crisis reflects wider property sector issues affecting China's economic recovery despite recent stimulus measures
• Shanghai recently eased home-buying restrictions as authorities attempt to stabilize the prolonged property downturn