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Wanda sets up its culture industry group
By Zhao Qian ( chinadaily.com.cn )
Updated: 2012-06-20

The Wanda Culture Industry Group was set up on June 18, 2012 in Beijing. It integrates registered cultural enterprises under the group in Beijing and other regions of China. The group will create a unified cultural brand under Wanda.

The Wanda Group began large scale investments in the culture industry in 2005 with a total asset of 10 billion yuan ($1.57 billion), the most of its kind given in the country. Its business covers six cultural fields including film making, stage show, film technology entertainment, chain culture enterprises, newspapers and media, as well as, Chinese painting and calligraphy collections.

After the establishment of the culture group, Wanda is expected to achieve revenues of more than 20 billion yuan in the culture industry, ranking first among cultural enterprises in China. The company aims to edge into the top 20 cultural enterprises in the world by 2016 with profits exceeding 40 billion yuan.

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