EverGrande's 1.5 billion headquarters found no buyers

Beijing, Dt
Evergrande, China's largest real estate group, has sold its Hong Kong headquarters for ૭ 1.5 billion to get out of financial trouble. UXU Properties, a Chinese state-owned company, expressed interest in Evergrande's property, but later withdrew.
Evergrande, a multi-billion dollar debt-ridden real estate company, has suffered another blow as talks to sell Hong Kong's historic building have collapsed, sources said. The Guangzhou-based UXU property was close to a deal in August to buy the six-story China Evergrande Center in Wan Chai, Hong Kong, famous as the local headquarters of Evergrande, sources said. But the talks broke down after UXU's board opposed the deal, expressing concern that Evergrande's debt could lead to further complications.
Investors, meanwhile, are worried about the bankruptcy of Evergrande, a Chinese real estate company. Investors fear the collapse of the company could lead to a collapse of the financial system in China and serious repercussions globally. However, officials at China's central bank claimed that the effects of the Evergrande Group's debt on the banking system were manageable and would have little effect on the liquidity crunch in global markets.