Evergrande: Why should I care about the crisis-hit Chinese property giant?

Evergrande, the crisis-hit Chinese property giant, faced a new setback as its shares were removed from the Hong Kong stock market. The company's founder, Hui Ka Yan, was fined and banned from China's capital market for overstating revenue. Evergrande's massive debt, aggressive expansion, and struggles to meet interest payments have had far-reaching implications, hurting the Chinese economy, real estate industry, financial sector, and local governments. This crisis highlights the risks of over-borrowing and the interconnectedness of China's economy.