Wanda broadens horizon to e-commerce

Conglomerate eyeing tie-ups with others firms to tap potential in the industry

After entrenching its position in shopping plazas, movie-theater chains, five-star hotels and resorts, Chinese conglomerate Dalian Wanda Group Co Ltd has now set its eyes on e-commerce with an ambitious plan to use its offline dominance in online business.

Wang Jianlin, founder and chairman of Wanda Group, said in a company meeting that his company will team up with several leading e-commerce players in China to set up an e-commerce company with an initial investment of 5 billion yuan ($806 million).