Dalian Wanda group founder Wang Jianlin formally unveiled an enormous, state-of-the art film production complex in the northern city of Qingdao, Reuters reports, with aims to transform the city into a global film production hub similar to that of Hollywood in the US.
The Qingdao Oriental Movie Metropolis cost approximately $8 billion and extends 400 acres, with some buildings on a nearby artificial island, making it the world’s largest movie studio.
During the opening ceremony on Saturday Wang told the audience of global film-industry executives that “we will boost the Chinese movie industry development”, pledging to turn Qingdao into “a global hub for film”.
Wang’s Dalian Wanda group already have considerable exposure to the film industry. The conglomerate currently owns American AMC Entertainment Holdings and Legendary Entertainment.