Wanda opens theme park to rival Disney

0 Comment(s)Print E-mail Xinhua, May 28, 2016
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Wei Xiang, an associate professor with the National Academy of Economic Strategy under the Chinese Academy of Social Sciences, said that in the next five years, major players will vie for the market share of theme parks and cultural estate, and they will rely heavily on investment and R&D to win the cut-throat competition.

He Jianmin, a professor of Shanghai University of Finance and Economics, said that Chinese companies should learn from Disney in terms of industrial chain, development mode, high-standard construction and global market strategy.

Li Yuebo, an analyst with Industrial Securities, said Wanda and Disney, different in many aspects, can both win rather than lose in China's booming tourism industry as they are based in different regions.

There is great potential to tap in theme park construction in China as more wealthy people are spending more on leisure. The International Association of Amusement Parks and Attractions predicted that Chinese theme parks would receive 320 million visitors in 2025.

Tian Yong, a professor with Jiangxi Normal University, said that other Chinese theme park operators, like Fantawild, Happy Valley and Chimelong, have operated well.

Fantawild, which runs an animation subsidiary, has opened 18 theme parks in 13 second- and third-tier cities across China. Last year, they received more than 23 million visitors. Theme parks contributed to over 90 percent of its revenues last year.

"Fantawild was founded only 10 years ago, and the young company bases its business on traditional Chinese culture," said Liu Daoqiang, president of Fantawild.

"We will continue to apply high-tech to tell China story and promote Chinese culture in the future," said Liu.

"Domestic and foreign theme parks are something like Chinese and western food," said Liu. "They compete and complement each other, and each may have its fans," he said.

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