Hong Kong court orders the liquidation of Chinese developer Evergrande. Once one of the heavyweights in the sector, the Chinese group has accumulated more than $300 billion in debt.
It has thus become a symbol of the real estate crisis which has lasted for several years in the world's second largest economy. China's construction and real estate sector accounted for about a quarter of China's GDP in 2013. But the sector's massive debt has been seen in recent years as a major risk for the country's economy and financial system.