Evergrande Group, China’s most heavily indebted property developer, faces a court-ordered wind-up in Hong Kong, as reported by Reuters on Monday. This exacerbates the erosion of investor confidence amid the ongoing challenges in China’s real estate sector, which continues to exert pressure on the economy. The High Court in the city issued the liquidation order after 19 months of negotiations failed to yield an agreement between the embattled Chinese real estate giant and its foreign creditors regarding the restructuring of the substantial debt.
