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Wanda Chief Vows to Repay All Overseas Debt

An aerial view of a Wanda Plaza commercial retail space in Dongying, Shandong province. Wanda Chairman Wang Jianlin said the company plans to open two malls and 50 new Wanda Plaza projects in 2018. Last year, Wanda opened 49 new plaza projects. Photo: Visual China
An aerial view of a Wanda Plaza commercial retail space in Dongying, Shandong province. Wanda Chairman Wang Jianlin said the company plans to open two malls and 50 new Wanda Plaza projects in 2018. Last year, Wanda opened 49 new plaza projects. Photo: Visual China

Wanda Group Chairman Wang Jianlin has promised his company will gradually repay all of its overseas debt and will not default on any loans, as the real estate and entertainment conglomerate continues to shed assets abroad.

Wang noted that it’s not a good idea to increase leverage at a time when reducing debt is the trend in China and the rest of the world, according to a transcript of his speech during the firm’s annual meeting on Saturday.

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