<p>Embattled property giant China Evergrande on Monday suspended trading in its shares on the Hong Kong stock exchange without giving a reason.</p>.<p>The company's stock price has plunged around 80 per cent since the start of the year as it teeters on the brink of collapse while struggling under a mountain of debt.</p>.<p>"Trading in the shares of China Evergrande Group will be halted," it said in a statement to the exchange. "Accordingly, all structured products relating to the Company will also be halted from trading at the same time."</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/business-news/distressed-debt-buyers-circling-evergrande-bonds-1036138.html" target="_blank">Distressed debt buyers circling Evergrande bonds</a></strong></p>.<p>Shares in its electric vehicle company, which last week scrapped a proposed Shanghai listing, were not suspended, though they fell six percent in early trade.</p>.<p>Officials at the firm have been struggling to deal with a crisis that has left it more than $300 billion in debt, fuelling fears of a contagion for the wider Chinese economy that some warn could spread globally.</p>.<p>Last week it said it will sell a $1.5 billion stake in a regional Chinese bank to raise much-needed capital, as it struggles to make interest payments to bondholders.</p>.<p>Beijing has stayed silent on the travails of the property empire, but state media has trailed various responses in a nod to the mood towards a private company that grew on a debt binge in the boom years of Chinese real estate.</p>.<p>Authorities have asked local governments to prepare for Evergrande's potential collapse, according to reports, suggesting a major state bailout is unlikely.</p>.<p>The liquidity crunch has triggered public anger and rare protests outside its offices in China as investors and suppliers demand their money back.</p>.<p>The group has admitted to facing "unprecedented challenges" and warned that it may not be able to meet its liabilities.</p>.<p>The country's real estate sector has been under tightened scrutiny in recent months, with regulators announcing caps for three different debt ratios in a scheme dubbed "three red lines" last year.</p>.<p><strong>Check out latest DH videos here: </strong></p>
<p>Embattled property giant China Evergrande on Monday suspended trading in its shares on the Hong Kong stock exchange without giving a reason.</p>.<p>The company's stock price has plunged around 80 per cent since the start of the year as it teeters on the brink of collapse while struggling under a mountain of debt.</p>.<p>"Trading in the shares of China Evergrande Group will be halted," it said in a statement to the exchange. "Accordingly, all structured products relating to the Company will also be halted from trading at the same time."</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/business-news/distressed-debt-buyers-circling-evergrande-bonds-1036138.html" target="_blank">Distressed debt buyers circling Evergrande bonds</a></strong></p>.<p>Shares in its electric vehicle company, which last week scrapped a proposed Shanghai listing, were not suspended, though they fell six percent in early trade.</p>.<p>Officials at the firm have been struggling to deal with a crisis that has left it more than $300 billion in debt, fuelling fears of a contagion for the wider Chinese economy that some warn could spread globally.</p>.<p>Last week it said it will sell a $1.5 billion stake in a regional Chinese bank to raise much-needed capital, as it struggles to make interest payments to bondholders.</p>.<p>Beijing has stayed silent on the travails of the property empire, but state media has trailed various responses in a nod to the mood towards a private company that grew on a debt binge in the boom years of Chinese real estate.</p>.<p>Authorities have asked local governments to prepare for Evergrande's potential collapse, according to reports, suggesting a major state bailout is unlikely.</p>.<p>The liquidity crunch has triggered public anger and rare protests outside its offices in China as investors and suppliers demand their money back.</p>.<p>The group has admitted to facing "unprecedented challenges" and warned that it may not be able to meet its liabilities.</p>.<p>The country's real estate sector has been under tightened scrutiny in recent months, with regulators announcing caps for three different debt ratios in a scheme dubbed "three red lines" last year.</p>.<p><strong>Check out latest DH videos here: </strong></p>