Evergrande Abandons Landmark Building in Shenzhen

What’s new: Debt-ridden China Evergrande Group has moved out of its iconic Zhuoyue Houhai Center headquarters in Shenzhen to a building elsewhere in the city and transferred most of its staff there to the firm’s previous home in Guangzhou.

On Monday, the company’s logo on the building, where it previously occupied 20 floors, was in the process of being removed.