The developer that bought Hollywood studio Legendary Entertainment is preparing to fight Disney to lead China's - and possibly the world's— theme park industry. Publicly laying down a challenge, Wang told Chinese state TV in comments broadcast Sunday he plans to "overtake Disney" as the biggest global tourism company by 2020. The battle of the theme parks also demonstrates the growing importance of China's public, who have evolved quickly from a nation of farmers and factory workers to one of the most important consumer markets. Wanda already has three theme park resorts in China that also include other facilities such as shopping malls, theaters and a ski resort. Both EuropaCity and Shanghai Disneyland have attracted attention from national leaders in France and China, reflecting the huge scale of their investment and hopes for tourism to drive economic growth. Wang has said that path follows the transformation of China's economy from one reliant on investment in factories and housing to a consumer market fueled by sales of clothes, entertainment and other goods. In 2012, Wanda bought U.S.
Comment on China's Wanda prepares for battle with 'old brand'
By LOUISE WATT, Associated Press, Seattle Post-Intelligencer: Living
Wed, 05/25/2016 - 10:54am
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