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.

The Hong Kong Stock Exchange delisted Evergrande, marking another significant step in the downfall of the indebted Chinese developer. Evergrande has been in liquidation proceeding