A building in central Chongqing that was originally intended to be the tallest in southwest China is set to be demolished because of financial problems that have stalled construction for four years, said a municipal government website.

Building work on the 77-storey JW Marriott International Center began in 2003, with the expectation that it would become a landmark building in Yuzhong district. It was intended to contain a hotel, shopping mall and offices, but construction was halted in 2006 after just eight storeys had been built.

There have been seven main investors in the project, including the state-owned Hangzhou Thermoelectricity Group.