Chinese property giant Ever Grant delisted after its spectacular fall.

Live from the UK, this is the Marketplace Morning Report from the BBC World Service.

Hello, I'm Nick Kareishi in Fort Leanna Burn.

Just a few years ago, Evergrand was a shining example of China's economic miracle.

But the real estate firm's sprawling empire was built on $300 billion of borrowed money.

When Beijing brought in new rules in 2020 to control the amount of cash that developers could borrow,

Everground started offering major discounts and eventually defaulted on some international loans.

Now it has been taken off the Hong Kong Stock Exchange after 15 years of trading.

So how could such a beacon of industry collapse so spectacularly?

BBC's Will Bain is with me. Hi Will.

Morning, Nick.

It's hard to overstate how big this firm was.

How massive was this company?

Yeah, you're spot on.

The scale of this firm at its height,

it was literally building millions of homes

in almost 300 cities across China.

At one point, its founder was Asia's richest man.

So this was a giant of the industry and a giant country construction, such a key part

of the Chinese economy, Nick, up to about a third of its GDP at certain points in the

recent years.

And so this is kind of one of the pinnacles, the leaders of that movement

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