Mon, 25 Aug 2025

Mon, 25 Aug 2025 Chinese property giant Evergrande delisted after spectacular fall

The embattled property giant's shares were taken off the Hong Kong stock market on Monday.

* Chinese property giant Evergrande has been delisted from the Hong Kong stock market after more than a decade and a half of trading, marking a grim milestone for the company.
* The delisting is both inevitable and final, according to experts, as Evergrande's collapse under the weight of its debts has made it impossible for the company to recover.
* Evergrande's founder and chairman Hui Ka Yan was fined $6.5m and banned from China's capital market for life in March 2024 after his company overstated revenue by $78bn.
* The company had built an empire on $300bn of borrowed money, earning it the title of the world's most indebted property developer.
* Evergrande's collapse has been a major drag on China's economy, which is also facing other challenges such as US tariffs, high local government debt, weak consumer spending, unemployment and an ageing population.
* Experts say that the property crisis in China will continue to have a major impact on the country's economy, with many households seeing their savings fall in value due to dropping housing prices.
* Beijing has announced a raft of initiatives aimed at reviving the housing market and stimulating consumer spending, but experts say it may take time for the economy to recover.
* Several other Chinese property firms are still facing major challenges, including Country Garden, which is trying to secure a deal with its creditors to write off more than $14bn of outstanding foreign debt.
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