Shares in China Evergrande, the real estate developer whose downfall led a collapse in the country’s property market, have been delisted from Hong Kong's stock exchange as creditors work to wind up debts that totaled over $300 billion.

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.