Along with his plan to create a film park in the country for 50 billion yuan or $8 billion, China’s richest man Wang Jianlin signed DiCaprio and Kidman for $50 million for this ambitious project. The two were present during the red-carpet project launch along with John Travolta and Catherine Zeta-Jones.
The massive state-of-the-art movie facility called Qingdao Oriental Movie Metropolis will be put up in the eastern seaside city of Qingdao. It boasts of 20 studios including a permanent underwater studio, 10,000 square-meter lot, theme park, celebrity wax museums, among others. The development is expected to be completed and fully operational by June 2017.
The Dalian Wanda Group has already signed with various global film giants and hopes to dominate the Chinese movie market as well as produce at least a hundred domestic films and television shows a year. In 2012, the group bought the U.S. cinema chain AMC for $2.6 billion.
"There's no single company in the whole world that has a big-scale production base, and at the same time has screening and distribution channels. Wanda Group is the first one in the world," Mr Wang said during the launch.
He added, "The Oriental Movie Metropolis is a major step in China's strategy to become a global cultural powerhouse.”
Mr. Wang was recently named by Forbes as China’s richest person with a net worth of $14 billion. He donated $20 million to the Academy of Motion Picture Arts and Sciences for the funding of its new film museum.
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