Chinese property giant Evergrande delisted after spectacular fall

Chinese property giant Evergrande has been delisted from the Hong Kong stock market, marking a significant downfall for the once-leading real estate firm. Evergrande's collapse under massive debts has had far-reaching impacts on China's economy, especially in the property sector. This crisis has caused layoffs, pay cuts, and decreased consumer spending, with housing prices plunging and leading to decreased savings for many households. While Beijing has introduced measures to revive the housing market and boost the economy, experts believe the property crisis is far from over, with other major developers facing challenges that could lead to further collapses in the industry.