China Evergrande Group has been officially delisted from the Hong Kong Stock Exchange, marking the collapse of what was once the country’s largest property developer. The company, which at its peak had assets worth more than $300 billion, has become the most prominent symbol of China’s deepening real estate crisis.
Evergrande’s financial troubles began in 2021 when it defaulted on its debt, triggering a broader downturn in China’s property sector. Years of aggressive borrowing and rapid expansion left the developer unable to meet repayment obligations as demand in the housing market weakened.
The company’s fall has had widespread consequences, affecting suppliers, homebuyers, and China’s financial system. Authorities have introduced measures to stabilize the housing market, but confidence remains fragile as other major developers also face heavy debt burdens. 
Analysts say Evergrande’s delisting underscores the risks of China’s growth model, which relied heavily on property development and debt-fueled expansion. The company’s unwinding is likely to continue in courts and restructuring processes, with creditors bracing for significant losses.
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