Conglomerates dominate prime projects as private sector struggles
This project in Shenzhen, called Marivista, is a joint development by state-owned conglomerates China Merchants Group and China Resources. (Photo by Wataru Suzuki)
SHENZHEN — China’s state-owned property developers are fueling a frenzy of construction activity in the southern city of Shenzhen, even as the private sector reels from fresh signs of a market downturn.