LOS ANGELES Oct 17 Dalian Wanda Group will
offer a 40 percent rebate to qualifying producers who use its
new studio in Qingdao, China, the company announced at an event
in Los Angeles where executives called for more collaboration
between U.S. and Chinese filmmakers.
The incentive will be paid from a five-year, $750 million
fund created by Wanda and the local government in Qingdao,
officials told a group of Hollywood executives in producers
seated in a theater at the Los Angeles County Museum of Art.
"This is an opportunity for Hollywood, not a competition for
Hollywood," Wanda Chairman Wang Jianlin said from a podium on
stage, speaking through a translator.
Wang, a billionaire who is China's richest man, has been the
biggest Chinese dealmaker in Hollywood, buying "Jurassic World"
producer Legendary Entertainment and U.S. cinema chain AMC
He is now trying to lure Hollywood filmmakers to a new
multibillion-dollar production studio and entertainment district
in Qingdao, a city on China's eastern coast.
Dalian Wanda is a real estate and media conglomerate. Two of
its key listed units are Dalian Wanda Commercial Properties
and Wanda Cinema Line Corp.
(Reporting by Lisa Richwine; Editing by Sandra Maler)