Wanda Group and US theater arts production company Franco Dragone Entertainment Group have agreed to form a joint venture performing arts company.

The Wuhan "Han Show" Theater project at Hotel Sofitel Wanda Beijing, was the official launch of the "Han Show" Theater program, with an investment of 2.5 billion yuan ($393 million).

The two parties will create five world-class "stage shows" in China from 2012.

Franco Dragone, a renowned world-class theater artist, has produced and directed many large stage shows and his show. The House of Dancing Water has become a must-see performance for visitors to Macao.

Architect and stage designer Mark Fisher, the artistic director of the opening and closing ceremonies of the 2006 Turin Winter Olympic Games, will be the stage designer for the show in Hubei's provincial capital Wuhan.