BEIJING (May 15): Chinese conglomerate Dalian Wanda Group said on Wednesday that it will invest an additional 80 billion yuan ($11.64 billion) in the city of Shenyang, as part of its effort to help revitalize China’s northeastern rustbelt.

Wanda Group had previously invested 25 billion yuan in Shenyang, capital of Liaoning province.

The group posted its third year of revenue decline in 2018, amid a government crackdown on leverage and overseas acquisitions.