Wanda ups investment in Shenyang to tap northeast China revitalization

0 Comment(s)Print E-mail Xinhua, May 16, 2019
Adjust font size:
Wanda Group chairman Wang Jianlin [Photo/VCG]

Chinese commercial giant Wanda Group announced Wednesday it will invest 80 billion yuan (about 11.65 billion U.S. dollars) in northeast China's Shenyang City in its latest move to tap the potential of the revitalization of the country's old manufacturing base.

The money will be spent on building world-class projects including a cultural tourism project, an international hospital, an international school and five Wanda Plazas, according to a comprehensive strategic cooperation agreement inked by Wanda and the local government.

Wanda has invested about 25 billion yuan in the capital city of Liaoning Province, and the new investment focuses on a package of projects and modern services in a bid to boost Shenyang's service sector in an all-around way.

Wanda Chairman Wang Jianlin attributed the additional hefty investment in Shenyang to the company's optimism about the city's future development as the local economy has bottomed out and is showing positive developmental trends.

Shenyang reported steady economic growth in the first quarter of this year, with GDP expanding 6.1 percent year on year. The service sector saw its value-added output increase by 5.6 percent year on year.

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter