Guangzhou court approves liquidation of Evergrande onshore unit Hengda Real Estate

The Guangzhou Intermediate People's Court has formally accepted a bankruptcy petition against Hengda Real Estate, Evergrande's primary onshore subsidiary. This legal action marks the definitive collapse of the developer's domestic operations, following the recent sentencing of its founder, Hui Ka Yan. The move signals the final phase of state-managed asset disposal in China's property sector crisis.