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

Chinese property giant Evergrande’s shares were taken off the Hong Kong stock market on Monday after more than a decade and a half of trading.

It marks a grim milestone for what was once China’s biggest real estate firm, with a stock market valuation of more than $50bn (£37.1bn). That was before its spectacular collapse under the weight of the huge debts that had powered its meteoric rise.

Experts say the delisting was both inevitable and final.

“Once delisted, there is no coming back,” says Dan Wang, China director at political risk consultancy Eurasia Group.

Evergrande is now best-known for its part in a crisis that has for years dragged on the world’s second-largest economy.

  • Wahots@pawb.socialEnglish
    10·
    1 day ago

    Typically this sort of stuff is the tip of the iceberg, especially in places where bad news that makes leaders look like idiots are suppressed. I wouldn’t be surprised if this was the sort of 2007 event that got 2008 rolling.

    Aside from potentially rawdogging a massive economic meltdown based on extremely shaky loans, market speculation and corruption, building a lot of half built buildings is also terrible for the environment now that they are occupying lands that used to be habitat. Some people probably bought places that will also never be finished, now.