China’s richest man declares war on Disney with giant theme park

3

BEIJING: The Chinese conglomerate Wanda on Saturday 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 kilometers (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 ($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, according to Forbes magazine — said he was setting his sights on Disney, which in June will open its first theme park on the mainland.

“This craze for Mickey Mouse and Donald Duck is over, the period when we would blindly follow where Disney led has been gone for years,” he said during a long interview with CCTV.

After the site in Nanchang, Wanda plans to open six more theme parks in China within three years and plans to have around 15 in the country by 2020.

“We want to ensure that Disney will not be able to make a profit in this (theme park) sector in China for between 10 and 20 years,” he said.

“A tiger cannot take on a pack of wolves,” he said during the same interview, in which he also accused Disney of “cloning past accomplishments without innovating”.

But experts claim Wanda’s goals are ambitious, pointing to the group’s lack of experience in the market.

Meanwhile Disney’s project in Shanghai — a 5.5-billion-dollar investment — will be its sixth theme park and its fourth outside the United States after Paris, Tokyo and Hong Kong.

The American giant is hoping its popular franchises will appeal to a booming Chinese middle class, in a country where it has been generating an increasing share of its box office revenue.

But Wanda is not entirely new to entertainment, having bought US cinema chain AMC Entertainment Holdings in 2012 and has also been branching out into film production, print media and art investment. AFP

afp/bf

Share.
.
Loading...

Please follow our commenting guidelines.

3 Comments

  1. I guess its time for DISNEY to pull out mickey mouse character and all other disney goodies that are manufactured in CHINA. Closing Disney factories in China means joblost to chinese people…if that happens, let’s just hope that WANDA City give them their job back they lost from Disney factory.

    I think it’s now time to change the real global competition. The products that are provided by the competing companies must be manufactured in their own land. For ex. America or DIsney’s Mickey Mouse must be labeled made in the US. Japan’s SANRIO Hello Kitty, must be made in Japan, these two universal characters must be labeled made in the country of their creation not made in China. Wanda City definitely, characters and goodies will all be labelled Made in China.

    There’s nothing to loose for these countries. Made in the US… asians and the rest of the world are delighted when they buy something that is made in the US. Especially asians who are very attracted to the commercials that americans produce. What about made in Japan? It’s very good design and high-quality that people from around the world are wiling to buy and pay more. Not to forget to mention, Japan’s world class service and hospitality are one of the key to global market. Made in China can also pass the global quality standard and its cheap price are the selling point to the world. Healthy competion, right?

    • I agree. There was a time when “made in the USA” really meant something. Now, most products sold in the USA are made somewhere else. They look cheap and don’t have the quality that one associates with US-made merchandise.

      As for the Wanda theme parks, it is so typical of the Chinese to copy and
      and come up with their Chinese version of the Disney parks. Very few original inventions and ideas come from the Chinese.