China’s Disneyland to open soon

Q.  Which company is opening China’s Disneyland in Sept 2016 worth USD 5.1 billion?
- Published on 26 Sep 16

a. Dalian Wanda
b. Baidu
c. Xiaomi
d. None of the above

ANSWER: Dalian Wanda
 
China’s Disneyland to open soonDalian Wanda Group, a Chinese entertainment giant owned by country’s richest man Wang Jiankin opened a first phase of the 34 billion yuan tourism park in the eastern city of Hefei.
  • Wanda is building similar projects creating as many as 20 such complexes in China
  • The first phase includes a shopping mall, a theme park and hotels while the second phase will be an indoor recreation project
  • Wanda intends to extend the park into the third stage in planning phase
  • Walt Disney recently opened a USD 5.5 billion resort in Shanghai in June 2016
  • China’s slowing economy has taken a toll on certain aspects of consumer spending. Outbound tourism numbers which rose to 16 percent are flat in 2016 according to the China National Tourism Administration
  • Wanda also announced a partnership with Sony Pictures in which Wanda will market Sony’s films and co-finance some upcoming movie releases of the film unit in China
  • In January, Wanda acquired a controlling stake in US Film studio Legendary
  • Swiss sports marketing firm Infront Sports & Media AG and World Triathlon Corp were also acquired by it
  • World Triathlon Corp is the owner of the Ironman franchise
  • Hefei Wanda City will hold the first Ironman triathlon in China in October 2016

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