Hong Kong Orders Liquidation Of Evergrande
Posted on 01/29/2024
A Hong Kong judge, Linda Chan, says Evergrande is seeing a “lack of progress” on its restructuring and the best action now is to liquidate its Hong Kong operation. China’s property sector accounts for nearly a third of its GDP. Unfortunately, that market has turned south and many projects that were pre-sold have yet to be completed. The Evergrande story, which will continue for some time due to the questions about the mainland China business, is a milestone in the implosion in the property market.
