China Evergrande shares suspended from trading in Hong Kong

The embattled property giant has also been ordered to demolish 39 buildings in a high-profile development in Hainan province

Shares in China’s Evergrande Group have been suspended from trading, the embattled property developer announced on Monday.

Evergrande did not give any reason for the suspension but it came amid Chinese media reports that the world’s most indebted developer was ordered by authorities in southern Hainan province to demolish 39 buildings in 10 days because the building permits were illegally obtained.

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