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Wanda

China’s Wanda opens its answer to Hollywood

A massive "movie metropolis" billed as China's answer to Hollywood opened on Saturday, aiming to boost the domestic film industry and attract foreign producers. A total of 50 billion yuan ($7.9 billion) has been invested in building the studio complex in the eastern port city of Qingdao, according to the project's initiator, Chinese conglomerate Dalian Wanda, which is owned by one of China's richest men Wang Jianlin. But the opening lacked the high-wattage star power that turned out for the project's inauguration in…