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State-Owned Developers Drive Construction Boom in Shenzhen Amid Private Sector Challenges

State-owned conglomerates China Merchants Group and China Resources lead major projects in Shenzhen despite a downturn affecting private developers.

Jun 29, 2026, 1:54 AM Nikkei Asia

Shenzhentopic China Merchants Grouporganization China Resourcesperson Chinageography Wataru Suzukiperson Shenzhen Amid Private Sector Challengestopic State-Owned Developers Drive Construction Boomtopic Nikkei Asiaorganization Marivistatopic Phototopic

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In Shenzhen, China, state-owned property developers are spearheading a surge in construction activity even as the private real estate sector faces market difficulties. Major projects, including the Marivista development, are being driven by state-owned conglomerates China Merchants Group and China Resources. This trend highlights the dominance of state enterprises in prime construction projects amid ongoing challenges for private developers in the city.

(Photo by Wataru Suzuki)

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Nikkei Asia Captured Jun 29, 2026, 1:53 AM · Original story

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Overview: This article shows limited framing pressure in the available source text. State-owned conglomerates China Merchants Group and China Resources lead major projects in Shenzhen despite a downturn affecting private developers.

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