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HONG KONG?
The ?era of blindly following Mickey Mouse? is over, says Chinese tycoon Wang Jianlin, whose Dalian Wanda Group operates a theme park in China?s eastern Jiangxi Province; but, competition for the Chinese entertainment conglomerate is heating up as Shanghai Disneyland opens Thursday.
Richard Huang, who analyzes China? get more info for Nomura investment bank, said there's a lot of room in the Chinese market for both Disney and Wanda to thrive.
He says,?Both of these benefit from the under-investment the country has manufactured in these entertainment venues. Because even yet in major cities like Shanghai there are no international standards or world class standard parks.?
Competition heats up
Tickets at Disney?s $5.5 billion Shanghai park will definitely cost about twice as much as those to the Nanchang Wanda Park, but Disney says the high prices will prevent overcrowding. Disney?s park is also twice as large because the Wanda park and boasts the biggest Disney castle in the world. The Wanda park says it has one of the largest roller coasters and the highest free-fall ride in China.
FILE - Wang Jianlin, chairman of Wanda Group, smiles at the Ninth Asian Financial Forum in Hong Kong on Jan. 18, 2016.
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