Housing crisis in China: Evergrande shares tank after re-entering trade | DW News

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DW News published this video item, entitled “Housing crisis in China: Evergrande shares tank after re-entering trade | DW News” – below is their description.

Shares in struggling Chinese developer Evergrande tanked more than 12 percent as it resumed trading in Hong Kong… share trading had been suspended for 17 days to allow the planned sale of its property services arm. Evergrande is the world’s most indebted property firm and faces a series of bond defaults, raising the possibility of contagion for the Chinese economy.

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    Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.

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