Shares in China Evergrande were removed from the Hong Kong Stock Exchange on Monday, marking another step in the retreat of the giant real estate developer whose downfall contributed to a prolonged crisis in China's property market.

China's embattled property sector took a major blow after China Evergrande, one of its flagship developers, was ejected from the Hong Kong stock exchange.

Evergrande, the world’s most indebted property developer, has been officially ejected from Hong Kong’s stock exchange, bringing down the curtain on the public status of a company that embodied the rise and fall of China’s real estate sector.