Wanda opens world’s biggest movie studio in ‘China’s answer to Hollywood’
Billionaire Wang Jianlin launches US$8 billion project to turn Chinese city of Qingdao into global film hub
Wang Jianlin, the billionaire boss of China’s Dalian Wanda Group, said on Saturday he would turn the northern port city of Qingdao into a global film production hub as he launched a sprawling studio complex in a ceremony attended by hundreds.
The US$8 billion project, built partly on an artificial island, also includes hotels, a theme park and a yacht club.
Wang, whose group controls US cinema chain AMC Entertainment Holdings and US studio Legendary Entertainment, promised generous subsidies for filmmakers but indicated a focus on China’s domestic film market.
“We will boost the Chinese movie industry development,” Wang said at the project’s opening ceremony.
“We will also turn Qingdao into a global hub for film.”