The crisis engulfing China Evergrande Group deepened, as the embattled property developer said it had been ordered to tear down dozens of buildings on an extravagant man-made island in southern China.
At the same time, Evergrande released data showing its much-publicized financial stress had largely halted sales of new homes, depriving it of an important source of cash. Contracted sales dwindled to about 720 million yuan, the equivalent of just $113 million, between mid-October and year-end, the company’s figures showed.
