Wanda Group to Compete with Disney in China

Chinese conglomerate Dalian Wanda Group will be spending nearly $15 billion on a theme park and more than a dozen malls in China’s Hunan province that will compete with Walt Disney Co.’s new $5.5 billion theme park in Shanghai, the Los Angeles Times reports. The company will spend more than $7 billion on a Wanda City theme park and another $7 billion on 15 shopping plazas.