![]() The company denies that its new headquarters will be China's tallest building, but says it will be the tallest building in Shenzhen.īeijing is also reaching new heights, as construction of the 330-meter China World Trade Center Tower 3 is expected to be completed soon. In Shenzhen, Ping An Insurance, China's second largest insurer, is planning a new skyscraper, also to be completed in 2014. In Tianjin, the 600-meter Goldin Finance 117 is under construction it, too, is expected to be completed in 2014. When it is completed in 2014, the Shanghai Center will be China's tallest building, edging out Taipei 101. In Shanghai, a $2.2 billion, 632-meter tower is currently under construction. In 1999, Lawrence noted that major financial crises often follow the construction of record-breaking skyscrapers.Įxamples include the Empire State Building in New York City, preceding the Great Depression of the 1930s, and the Petronas Twin Towers in Kuala Lumpur, Malaysia, just before the1997 financial crisis in Southeast Asia.īut government financing, backed by Beijing's ambitious $586 billion stimulus plan, insures that the breakneck pace of development in China's cities will continue. Related readings: Race for skyscrapers Construction to begin on China's tallest building New skyscraper ready for its dizzying debut Tallest building completion delayed by 4 monthsĭevelopers believe China will prove to be an exception to the "skyscraper index" - popularly known as the "skyscraper curse" - proposed by financial analyst Andrew Lawrence. ![]() While most of the world's major construction projects have been put on hold, new skyscrapers are under construction in Beijing, Shanghai, Shenzhen, and several smaller cities, defying the global economic slowdown. Hoping to avoid the "skyscraper curse," China's cities continue to reach for the sky.
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