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China debt crunch

China Evergrande abandons corporate headquarters

Embattled developer to save costs by leaving high-profile Shenzhen location

China Evergrande Group's name began disappearing from at least one side of its headquarters building on Monday. (Photo by Yusuke Hinata)

SHENZHEN/HONG KONG -- Embattled property company China Evergrande began removing its name from its corporate headquarters in Shenzhen on Monday.

As of the afternoon, three of the four Chinese characters in the company's name had been taken down from at least one side of the glazed skyscraper, with only the letters "Ever" remaining in its English name.

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