China’s richest man, Wang Jianlin, plans to spend 30 billion yuan (US$5 billion) to build a theme park to rival the Shanghai Disney Resort as he explores possibilities for the future of his property development company, reports the Beijing News.
Wang, chairman of real estate developer Dalian Wanda Group, who was ranked by Forbes as the richest person in China in 2013, has become more ambitious in his plans for the company since late last year.
One of the company’s latest projects is a theme park in Hefei in eastern China’s Anhui province, construction for which began last year.
“I’m targeting Disney. I never have blind faith in foreigners. I will prove that a tourism project built by the Chinese can compete with the so-called famous brands from the United States,” Wang said.
The Shanghai Disney Resort, which was first announced in 2002, will cost nearly 25 billion yuan (US$4.1 billion) and it is scheduled to open at the end of next year, according to its website.
Wang has said that China’s cultural tourism market has great potential, which he estimated could have room for over 100 theme parks, adding that Wanda aims to make it to the top 10 companies in the cultural business by 2020, posting sales of 80 billion yuan (US$13.2 billion).
Read more at Want China Times