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Wanda Bets Big On China's Northeast To Propel Recovery - Nikkei Asian Review

by asia.nikkei.com posted 3months ago 18 views
BEIJING -- Dalian Wanda Group is looking to invest up to 160 billion yuan ($23.2 billion) with a focus on China's less-developed Northeast region as efforts to streamline its finances wind down, though the aggressive campaign risks exposing the group to debt once again. "Some say there are no big investments to be made in northeastern China, but there is a growing future here," Wanda Chairman Wang Jianlin said mid-May in the city of Shenyang, where the company agreed to invest 80 billion yuan to build luxury hotels, a theme park and commercial facilities. Construction will begin this summer.

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