The Chinese stock market has lost $6,000 billion in three years according to data published by Bloomberg. The media spotlight is mainly focused on Evergrande.
The Hong Kong justice system ordered the liquidation of the developer, who symbolizes the setbacks of the Chinese real estate sector. “This is the final act of the collapse saga, but there will be a sequel,” underlines Alexandre Baradez, financial analyst for the broker IG France. ‘In my lifetime, I have never experienced such a degraded stock market context in China,’ assures Xin Sun, a specialist in Chinese economics.