The move comes amid reports that Evergrande has been ordered to demolish 39 buildings in a high-profile development in Hainan province
Shares in China’s Evergrande Group have been suspended from trading, the embattled property developer announced on Monday.
Evergrande did not give any reason for the suspension but it came amid Chinese media reports that the world’s most indebted developer was ordered by authorities in southern Hainan province to demolish 39 buildings in 10 days because the building permits were illegally obtained.
