You will be redirected back to your article in seconds

China’s Wanda Commits $15 Billion to Development in Xi’an

Dalian Wanda, the Chinese group that is making inroads into Hollywood, has signed a deal to build a $15 billion Wanda City in Xi’an, home of China’s famous Terracotta Warriors.

Wanda City is the company’s brand of operations that integrates culture, sports, tourism, hospitality, and commercial properties. It is the second such project greenlighted in the past days, having signed one in Hunan Province last week.

Xi’an, a former capital of China and the start of the ancient Silk Road, is already a major tourist destination. It boasts world heritage-protected temples, pagodas and relics. Wanda says that it will cooperate with the Shaanxi provincial government in commercial properties, culture, Internet technology and finance.

It will invest $7.3 billion (RMB50 million) in the Wanda City and a further $7.7 billion (RMB53 billion) across the province, including the building of a further 19 Wanda Plaza shopping malls in 10 cities.
Wanda promises to bring the Ironman competition and other sporting events to Xi’an. It acquired the World Triathlon Corporation, which operates the Ironman endurance competitions, in a $650 million deal last year.

Wanda sees its cultural tourism centers as rivals to the theme parks being developed in China by Western entertainment conglomerates including Disney, Six Flags and Comcast-Universal-DreamWorks Animation.

More Biz

  • Gibson, Iconic Guitar Company, Said to

    Gibson, Iconic Guitar Company, Said to Be Nearing Bankruptcy

    Dalian Wanda, the Chinese group that is making inroads into Hollywood, has signed a deal to build a $15 billion Wanda City in Xi’an, home of China’s famous Terracotta Warriors. Wanda City is the company’s brand of operations that integrates culture, sports, tourism, hospitality, and commercial properties. It is the second such project greenlighted in […]

  • David Glasser Fired by the Weinstein

    Weinstein Co. Board Fires COO David Glasser for Cause

    Dalian Wanda, the Chinese group that is making inroads into Hollywood, has signed a deal to build a $15 billion Wanda City in Xi’an, home of China’s famous Terracotta Warriors. Wanda City is the company’s brand of operations that integrates culture, sports, tourism, hospitality, and commercial properties. It is the second such project greenlighted in […]

  • Rules Don't Apply review

    Warren Beatty Sought Wider 'Rules Don't Apply' Release Despite Grim Test Screenings

    Dalian Wanda, the Chinese group that is making inroads into Hollywood, has signed a deal to build a $15 billion Wanda City in Xi’an, home of China’s famous Terracotta Warriors. Wanda City is the company’s brand of operations that integrates culture, sports, tourism, hospitality, and commercial properties. It is the second such project greenlighted in […]

  • Oh Seok-geun Korean Film Council

    New Leader Promises Reforms at Korean Film Council

    Dalian Wanda, the Chinese group that is making inroads into Hollywood, has signed a deal to build a $15 billion Wanda City in Xi’an, home of China’s famous Terracotta Warriors. Wanda City is the company’s brand of operations that integrates culture, sports, tourism, hospitality, and commercial properties. It is the second such project greenlighted in […]

  • SOUTH KOREA OUTMandatory Credit: Photo by

    Actress Choi Hee-seo Looks Forward to a Promising Career

    Dalian Wanda, the Chinese group that is making inroads into Hollywood, has signed a deal to build a $15 billion Wanda City in Xi’an, home of China’s famous Terracotta Warriors. Wanda City is the company’s brand of operations that integrates culture, sports, tourism, hospitality, and commercial properties. It is the second such project greenlighted in […]

  • The Prison Korean Cinema

    Korea's Box Office Faces a Drop in Admissions as Streaming Services Compete

    Dalian Wanda, the Chinese group that is making inroads into Hollywood, has signed a deal to build a $15 billion Wanda City in Xi’an, home of China’s famous Terracotta Warriors. Wanda City is the company’s brand of operations that integrates culture, sports, tourism, hospitality, and commercial properties. It is the second such project greenlighted in […]

  • Andy Lo Hong Kong Writer Director

    Ambitious Filmmaker Andy Lo Wants Success in Both Hong Kong and China

    Dalian Wanda, the Chinese group that is making inroads into Hollywood, has signed a deal to build a $15 billion Wanda City in Xi’an, home of China’s famous Terracotta Warriors. Wanda City is the company’s brand of operations that integrates culture, sports, tourism, hospitality, and commercial properties. It is the second such project greenlighted in […]

More From Our Brands

Access exclusive content