After a historical collapse … the Chinese Evergrand collection was removed from the stock exchange

The “China Evergrand” real estate group, which was once the largest private real estate developer in China, witnessed a resounding fall after years of excessive debt expansion, which ended with the removal of its shares from the Hong Kong Exchange this week, in one of the largest cases of collapse in terms of market value in the history of Asian markets.

The company offered its shares in 2009 with a market value of 9 billion dollars, before it rose to the peak of $ 51 billion after only eight years. But later lost most of its value to reach about 282 million dollars, after it was burdened by debts exceeding 300 billion dollars. Evergernd’s shares trading stopped since last January, when the Hong Kong court issued an order to liquidate it after it failed to reach an agreement to restructure its debts. In the last trading session 19 months ago, the share price fell to $ 0.163 Hong Kong, compared to its peak of $ 31.39 Hong Kong. The deletion of “Evergrand” represents a new chapter in the unprecedented real estate crisis that has been ravaged by China since 2021, which is still continuing with other developers who face a similar fate, among them “China South City, a recent liquidation order, despite her government support. Economists believe that the collapse of “Evergernd” reflects the end of the “Golden Age of Chinese Real Estate”, as Gary Ng, chief economist at Natxis Bank: said that the deletion is “symbolic in a great degree but explains the collapse of the debt -based expansion model.” Although the Chinese government’s attempts to revitalize the sector, which was the sector, which was the sector, A quarter of the gross domestic product represents, the crisis affected the confidence of consumers and investors, at a time when millions of buyers are still waiting to receive their incomplete homes, while the creditors hope to restore their money. External for debts exceeding 45 billion dollars. The collapse is also linked to the company’s founder’s march, Hui Ka Yan, who moved from a modest background in a rural village to one of the richest Chinese men, before he was prevented from life markets for life and fined 47 million yuan on charges of fraud and manipulation of results. Since his arrest in 2023, Hate has not appeared publicly, while issues related to his assets abroad are chasing him. Analysts believe that the fall of “Evergrand” does not represent the end of the real estate crisis in China, but may be the beginning of a series of other collapses, while the sector remains under liquidity pressures and poor demand, at a time when Beijing seeks to restore stability through repeated support measures that have not yet succeeded in restoring confidence to the market.