Here's what to know about the collapse of China's Evergrande property developer
A Hong Kong court has ordered the liquidation of the Evergrande Group, China's giant and massively indebted real estate developer, after the company was unable to restructure the $300 billion it owed investors.
Just six years ago, Evergrande was riding high, preselling apartments to middle- and upper-income Chinese. In 2018, it was listed as the world's most valuable real estate company. But just three years later, it was on the financial ropes.
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