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.

Chinese property giant Evergrande was removed from the Hong Kong Stock Exchange on Monday, more than a year after the city's court ordered the indebted real estate developer to be liquidated.