Shares in China Evergrande were removed from the Hong Kong Stock Exchange on Monday, marking another step in the retreat of the giant real estate developer whose downfall contributed to a prolonged crisis in China's property market.

Evergrande was once China's biggest property developer [AFP via ] Chinese property giant Evergrande's shares were taken off the Hong Kong stock market on Monday after

In March of the same year, Evergrande's founder Hui Ka Yan was fined $6.5m (£4.8m) and banned from China's capital market for life for his company overstating its revenue by $78bn. The company was declared to be in default in 2021 after missing a crucial debt repayment deadline.