The mayor of Shenyang says the city is willing to help disgraced tycoon Yang Bin manage his firm's assets by proxy, or sell them, in order to revive his Holland Village property and agricultural development.
Yang, the chairman of Hong Kong-listed Euro-Asia Agricultural Holdings, was sentenced to 18 years in prison last month by a court in Shenyang for crimes including bribery and fraud.
Holland Village in Shenyang was the 40-year-old Dutchman's biggest investment in northeastern China.
Shenyang major Zhang Xingxiang said the abandoned Holland Village yielded no tax revenue and had hurt the city's image. 'The city of Shenyang and the shareholders are on the same side to seek solutions,' Mr Zhang said.
Holland Village had the potential to turn a profit and some investors had shown an interest in it, but until Yang's case was over - he is appealing against his verdict and sentence - the government could not do anything about the assets. 'It is untrue that his assets have been confiscated,' Mr Zhang said.
The management of Holland Village is in the hands of Yang's relatives. His staff have left after months without pay.