Evergrande collapse means foreign investors in China face even greater uncertainty

Broken furniture outside an abandoned Evergrande commercial complex in Beijing. A Hong Kong court has ordered the liquidation of the Chinese property developer but most of its assets are in the mainland, a separate jurisdiction. Photograph: Greg Baker/AFP/Getty Images

As China’s most embattled – and indebted – property developer is ordered to liquidate, the effects that Evergrande’s collapse will have on investors, debt holders and the hundreds of thousands of homebuyers who have paid deposits for homes remains uncertain.

Evergrande, the Chinese property developer, was worth just $275m on Monday, down 99% from its peak in 2017. It owes more than $300bn to various creditors, according to its most recent financial report.