China Evergrande, with $300B in debt, ordered to liquidate
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A Hong Kong court has ordered the liquidation of China Evergrande Group, the world's most indebted property developer with over $300 billion in liabilities. This decision could shake China's already unstable financial markets as officials rush to manage the escalating crisis. Evergrande's debt default in 2021 triggered a nationwide crisis in the property sector, leading to multiple company defaults and hindering economic growth.