Wanda premieres Qingdao film hub

Qingdao Movie Metropolis, a mega movie industry center with an investment of 50 billion yuan ($7.9 billion), opened in Qingdao, Shandong province during the May Day holiday, giving a major boost to the domestic film industry as "China's Hollywood".

Wang Jianlin, the project's major initiator and chairman of Chinese conglomerate Dalian Wanda Group, said that it aims to build the movie metropolis into a "new global hub for films".

"The establishment of the movie metropolis is a milestone for the industrialization of the Chinese film industry. It will help promote Chinese films to go to the world stage," said Wang.