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china evergrande was ordered to be liquidated earlier, and the hong kong high court ruled that evergrande founder xu jiayin must repay more than 5.3 billion yuan in debt to hexin hengju, a subsidiary of citic group, otherwise he would have to sell properties under an absolute charge order to pay off the debt.

hexin hengju subsequently appealed, requiring xu jiayin to hand over the vacant property in tsim sha tsui he held and sell it under the court's instructions. the case was heard in the high court yesterday. the court approved the execution of the charge order in the absence of xu jiayin's party. after the property is auctioned and sold, it will be used to repay part of the debt.

it is understood that the property involved is room a on the 6th floor of cheung king building, no. 144 austin road, kowloon. according to information, the unit has two bedrooms and a living room, with an area of ​​about 375 square feet. it was reported that xu jiayin spent hk$1.75 million to buy it in 1999 after he made his first fortune in the real estate business. (hong kong economic times)