A Hong Kong court has issued an order to liquidate the heavily indebted Chinese real estate developer Evergrande, currently bearing the title of the world's most indebted developer, with total liabilities exceeding 300 billion yuan. An attempt by Fengtao Property Company, an offshoot of Evergrande, to auction off its assets resulted in zero bids, underscoring the subdued demand within the property sector. Due to the challenges faced by Evergrande, there are modest signs of improvement in the Chinese real estate market. Reuters reports a 0.15% increase in the average house price across Chinese cities in January, marking ...
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