Massive Chinese property developer Evergrande plunges into liquidation in economic earthquake: Here’s what it means for Australia

  • Apartment building Evergrande in liquidation

Chinese property giant Evergrande has plunged into liquidation, potentially jeopardizing demand for Australian iron ore used to make steel.

The future of Australia’s biggest export could be rocky after a Hong Kong judge, Linda Chan, ordered it to wind up its business due to a ‘lack of progress on the part of the company to present a viable restructuring proposal’.

Chinese property giant Evergrande plunged into liquidation, potentially jeopardizing demand for Australian iron ore used to make steel (pictured is an Evergrande commercial complex in Beijing)

Chinese property giant Evergrande plunged into liquidation, potentially jeopardizing demand for Australian iron ore used to make steel (pictured is an Evergrande commercial complex in Beijing)