Wang Jianlin, Wanda’s CEO, the richest man in Asia once said, “Our goal is to make Wanda a brand like Walmart or IBM or Google, a brand known by everyone in the world, a brand from China.” Dalian Wanda, with assets of over $96 billion, has grown from a property company to a large conglomerate, and has its fingers in many pies: from real estate and retail to sports and entertainment. It is also leading a world-wide buying spree, acquiring top assets such as AMC Theatres, Legendary Pictures, World Triathlon Corporation, and Infront Sports & Media. While trying hard to diversify its business, real estate still takes the largest portion in its revenue structure. But how stable is Wanda empire’s future?
According to the Hurun Global Rich List, with 568 billionaires, Greater China overtook the US (with 535 billionaires). Mainland China, Hong Kong, Taiwan and Macau minted 90 new billionaires over last year. Even as the ranks of billionaires swell in China, the damning reality is that wealth is concentrated amongst a handful of people. According to a survey conducted by a Peking University institute, 1% of families in China own 1/3rd of the wealth. That speaks of a serious imbalance in the society. In this edition of China Data, we bring you statistics on China’s wealth imbalance, Dalian Wanda’s investment in healthcare, Chinese tourists in Japan, and more.
Wang Jianlin’s sprawling business conglomerate, the Dalian Wanda Group, has its fingers in many pies: from real estate and retail to sports and entertainment.
Theme parks in China are in take-off mode once again, but could some be heading for a big drop?
Essential numbers on China: from the RMB internationalization to the contraction in the luxury market, growth in e-commerce transaction value, and more
With its huge scale and steps toward global dominance, can anyone rival Alibaba’s might in China’s e-commerce sector?
This week, CEO Wang Jianlin missed the opportunity to become the richest man in China when the much awaited Dalian Wanda IPO turned out to be a damp squib and Xiaomi was valued at $45 billion, way higher than Uber.
Chinese outbound investment in entertainment is growing phenomenally. A look at the big deals like Dalian Wanda’s purchase of US-based AMC Entertainment.
Politics can often be a deal breaker in business between India and China. But now that might change due to changes in both economies.
Anbang Insurance’s purchase of New York’s iconic Waldorf Astoria Hotel stunned many, but it’s only the tip of the Chinese outbound investment iceberg. In the first of our series on Chinese outbound investment, we take a look at the biggest real estate purchases made by Chinese companies.