Dalian Wanda signs $2.3bn deal to build three private hospitals

Dalian Wanda Group will invest RMB15 billion (US$2.3 billion) toward building three private hospitals in Shanghai, Chengdu and Qingdao to be run by British health-care operator International Hospitals Group, The Wall Street Journal reported, citing a statement from Wanda. The announcement, which contrasts with the real estate conglomerate’s previously stated goal to cut reliance on the mainland’s troubled property market, coincided with a two-day visit to China by the UK foreign secretary, Philip Hammond. Wanda Chairman Wang Jianlin, himself among China’s richest individuals, said that the hospitals will serve affluent patients.