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China’s richest man builds mega parks on Belt and Road route

Wang Jianlin, chairman of Dalian Wanda Group, says they will build two entertainment complexes in countries along the route, as China’s biggest businesses lend weight to Beijing’s trade plan to export its economic and soft power globally

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Wanda Group which has focused on building its overseas assets in the recent years, says it aims to be a global company with assets of US$200 billion by 2020. Its assets amounted to about US$115 billion in 2016. Photo: EPA

Wang Jianlin, China’s richest man, has revealed his plans to build gigantic theme parks whose scale could rival Disneyland, in countries along the Belt and Road route, as Chinese business heavyweights answer a national calling from Beijing for the ambitious trade development plan.

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Pacts to build the two entertainment complexes, called Wanda City, are expected to be inked this year, said the property-to-entertainment tycoon, who chairs China’s largest private property developer Dalian Wanda Group in a speech to university students in Beijing on Friday.

His remarks came ahead of President Xi Jinping’s pledge of a mammoth US$113 billion in extra funding for the plan to boost trade and investments across 62 countries across Asia, the Middle East and Europe, particularly in developing ones like Kazakhstan and Malaysia.

“With the four planned overseas projects, we are already the world’s key exporter of cultural and tourism projects, second only to America’s Disneyland and Universal Studio,” Wang said.

He said they had already signed contracts to open two Wanda City theme parks in France’s Paris and India’s Delhi, but did not specify which two “major countries” linked along the Belt and Road route where the remaining Wanda City parks will be constructed.

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Visitors to the Wanda Movie Park in Wuhan city in Hubei province immerse in an interactive game based on the Chinese classic, Journey to the West. Photo: Simon Song
Visitors to the Wanda Movie Park in Wuhan city in Hubei province immerse in an interactive game based on the Chinese classic, Journey to the West. Photo: Simon Song
The 62-year-old billionaire, who also controls the world’s largest cinema chain, has long floated the idea of having his business empire take on Disney in the Chinese market and become a premiere entertainment park operator recognised globally.
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