Business Intelligence on Retailing, Franchising, and Consumerism in China

Wanda's Investment Will Create Sports And Finance Opportunities In Shaanxi Province

China's Wanda Group has signed a comprehensive strategic cooperation agreement with Shaanxi to invest additional CNY103 billion into this province.

Of the total investment, CNY50 billion will be used to build a Wanda city in Xi'an. Meanwhile, Wanda said that the company plans to build 19 new Wanda Plazas in ten cities within the province, including Baoji and Xianyang, to realize its full coverage in Shaanxi. With those projects, Wanda aims to promote the business development of Shaanxi and stimulate the overall improvement of city construction and commercial consumption in this important province in the center of China.

Wanda will use its advantages in international sports event resources to bring international sports events to Xi'an and help Xi'an become a well-known international sports city. Wanda's network group and financial group will also launch in-depth cooperation with Shaanxi to help its physical businesses achieve transformation and upgrades to the Internet. At the beginning of 2016, Wanda's selected Xi'an as a "physical business plus Internet" trial city.

For the financial area, Wanda's financial group will participate in the establishment of private banks in Shaanxi. They will join hands to set up consumer finance and financial leasing companies to create a modern financial ecology.

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