Dalian Wanda Announces Plans for 50 Billion Yuan Theme Park Near Terra-Cotta Warriors

(Beijing) – Real estate giant and entertainment aspirant Dalian Wanda said it plans to spend 103 billion yuan ($15 billion) to build a theme park and shopping malls in northwest China's Shaanxi province.

The project is the largest in Wanda's recent series of commitments as it seeks to challenge global giant The Walt Disney Co.

The centerpiece of the commitment will be one of its Wanda City theme parks, which will cost 50 billion yuan. The park will be in the provincial capital of Xi'an, home to the famous terra-cotta warriors that date back to the Qin dynasty, under which China was unified 2,200 years ago.