Bank of China joins at least another 50 Chinese firms who have either dropped PwC or cancelled plans to hire the firm

Last month, China announced "historic" steps to stabilise the sector, with the central bank easing mortgage rules and facilitating $140 billion in extra funding

PricewaterhouseCoopers, one of the Big Four auditors, had been Evergrande’s auditor since 2009, when the developer listed in Hong Kong

The properties, located in The Peak, one of the most prestigious neighbourhoods in Hong Kong, are valued at more than $192 million

At a twice-a-decade financial policy meeting this week, Beijing vowed to uphold the centralised and unified leadership of the CCP on China's financial work

Police scrutiny of Evergrande, and now its chief, has complicated debt restructuring efforts by the world’s most debt-laden property developer

On Friday, Evergrande said it had "adequately" fulfilled exchange guidance for the resumption of trade of its Hong Kong-listed stock

Workers at dorms on two Country Garden sites in Tianjin, a port city of 14 million people about 135 km (84 miles) southeast of Beijing, complained of months without pay

China's property sector has over the past two years been thrust into a severe debt crisis with many developers defaulting on payments

Bondholders have also been pushing Evergrande Chairman Hui Ka Yan to put in more of his own money to repay debt

The developer will issue 870 million new shares, or 3.6% of the enlarged share capital, at HK$3.25 each, to professional and institutional investors in the share sale

The fund has an initial $12bn from China Construction Bank and the PBOC to buy and complete unfinished projects. More insights are expected when Evergrande releases its debt plan this week