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1st LD-Writethru: Tianjin skyscraper owner vows completion despite funding concerns

Xinhua, May 5, 2016 Adjust font size:

The owners of a skyscraper in north China set to be the world's fifth-tallest building have said it will be completed by the end of 2017 despite reported financial difficulties.

The 596.5-meter Goldin Finance 117 in the city of Tianjin has been capped and the construction is progressing smoothly, a spokesperson for Goldin Properties Holding told Xinhua in an e-mailed statement.

The company has "sufficient funding" to complete the building and was under no pressure to swap the project for cash, it said.

Goldin suffered steep falls in the stock market last year, prompting concerns over the project's finance. There are also questions over its sales in a cooling property market in China.

The building has 117 stories due to be filled by hotels and offices. Construction began in 2008. Endi