29 May '16, 12am

China's richest man declares war on Disney with giant theme park - Channel News Asia

BEIJING: The Chinese conglomerate Wanda on Saturday (May 28) opened its first theme park, with its billionaire boss declaring war on Disney weeks before the American entertainment giant launches a similar attraction in Shanghai. "Wanda City", in southeastern Nanchang, comprises a giant mall set over two square kilometres (miles), as well as an 80-hectare theme park boasting "the highest and longest roller coaster and the highest drop tower in China", according to a statement by the group. The project represents an investment of 22 billion yuan (US$3.4 billion), the statement said. "We want to be a model ... and highlight Chinese influence in the cultural domain," Wanda founder Wang Jianlin said during an opening ceremony at the park as he referenced an "invasion" of foreign cultures, according to state television channel CCTV. A week before, Wang - China's richest man, acc...

Full article: http://www.channelnewsasia.com/news/business/china-s-rich...

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