Evergrande, once China's second-largest property developer, will be delisted from the Hong Kong stock exchange on August 25 due to its massive debts exceeding $300 billion and failure to provide a viable restructuring plan. The company has faced significant challenges since a crackdown on excessive borrowing in 2020, leading to a crisis in the property sector and a prolonged downturn in house prices. Evergrande's founder, Hui Ka Yan, was detained in September 2023, further complicating the company's situation. Teljes cikk (Euronews.com)