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Shenyang City Profile

​Serving as the capital of Liaoning Province, Shenyang has modernized quickly in recent years. Functioning as a major regional transport hub, the city has become an important pillar of Northeast China and is expected to play an increasing role in ongoing efforts to revitalize the region. 

As Shenyang slowly shifts its economic focus from traditional “rust belt” industries to more service-oriented and sustainable sectors, the city is expected to transform into an increasingly modern and technologically advanced global city. The city has also made strides in economic diversification over the last several years. Considerable growth in IT and real estate has helped drive employment in the last decade, contributing to steadily growing incomes and an ever-expanding consumer class. 

Following a surge in residential and commercial real estate growth over the last decade, the last few years in Shenyang have seen the emergence of more quality projects. This has led to a small, but growing number of premium-grade properties sprouting up in high-profile areas of the city. These quality projects are helping to raise the overall sophistication of the local property market. ​

Tagged amongst the fastest-growing Chinese cities by the Economist Intelligence Unit at the start of decade, Shenyang underwent a multi-year period of ferocious growth, which triggered an explosion in building construction in the city. Presently, however, under a slowing economy, the large amounts of new supply have led to challenges. Also, ongoing anti-corruption campaigns continue to weigh on luxury sales in Shenyang, which comprises China’s third-largest luxury market. 

However, with dedicated economic support for the region as promised in 2015 by official leaders, Shenyang will forge on to help the region begin to narrow the gap with China’s wealthy eastern and southern regions.  ​​​

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