What Does Evergrande’s Liquidation Order Mean?
Source: Bloomberg
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China Evergrande Group, the developer at the center of China’s property crisis, is heading for liquidation after a Hong Kong court ordered it to be wound up.
It’s a grim milestone for founder Hui Ka Yan’s company more than two years after defaulting on its debts. It also marks another chapter in the nation’s housing market meltdown that continues to drag on economic growth.