China Evergrande to Undergo Liquidation with Outstanding Debts Totaling $300 Billion

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The liquidation of property giant China Evergrande Group by a Hong Kong court on Monday is set to significantly impact China's financial markets. Evergrande, the world's most indebted property developer with over $300 billion in liabilities, defaulted on its debt in 2021, triggering turmoil in the property sector.