China Court Curbs Spending by Wanda, Founder Wang Jianlin
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Wang Jianlin.
A Chinese court has imposed high consumption restrictions on debt-laden Dalian Wanda Group Co. Ltd. and its billionaire founder Wang Jianlin, according to business registration database Qichacha on Sunday.
The order, issued by the Lanzhou Intermediate People’s Court in West China’s Gansu province, also applies to Wanda’s core property arm Wanda Real Estate Group Co. Ltd., and subsidiaries Wuhan Wanda Cultural and Tourism Real Estate Co. Ltd. and Wuhan Chuhehanjie Cultural Tourism Investment Co. Ltd.
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- A Chinese court imposed high consumption restrictions on Dalian Wanda Group, its founder Wang Jianlin, and key subsidiaries due to unpaid debts, later removing Wang’s name from the order publicly.
- The restrictions, requested by Everbright Xinglong Trust, relate to disputes over failed repayments and asset freezes tied to Wanda’s large projects in Wuhan.
- Wanda has been selling assets and renegotiating debt to address a severe liquidity crisis, raising billions of yuan in 2023.
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Who’s Who
- Dalian Wanda Group Co. Ltd.
- A Chinese court recently imposed high consumption restrictions on Dalian Wanda Group Co. Ltd. and its founder, Wang Jianlin, due to debt. These restrictions, also affecting Wanda's property arm and subsidiaries, prohibit high-value spending to compel debt repayment. The action stems from an application by Everbright Xinglong Trust Co. Ltd., involved in financing a major Wanda development project.
- Wanda Real Estate Group Co. Ltd.
- Wanda Real Estate Group Co. Ltd. is Wanda's core property arm. It has been subjected to high consumption restrictions by a Chinese court due to debt. The court also approved a request to freeze its bank deposits totalling approximately $32.2 million and a 51% stake in an affiliated developer.
- WuhanWandaCulturalandTourismReal EstateCo.Ltd.
- Wuhan Wanda Cultural and Tourism Real Estate Co. Ltd. is a subsidiary of Wanda Real Estate Group Co. Ltd. and was the developer of the 50-billion-yuan Wuhan Wanda cultural tourism city project. It is currently 51% controlled by Wanda Real Estate and 49% by an equity investment firm. It is subject to high consumption restrictions and its 51% stake has been frozen due to legal action by Everbright Xinglong Trust Co. Ltd.
- Wuhan Chuhehanjie Cultural Tourism Investment Co. Ltd.
- Wuhan Chuhehanjie Cultural Tourism Investment Co. Ltd. is a subsidiary of Wanda, and the developer of the Wuhan central cultural district project. It is currently 90% controlled by Wanda Real Estate and China Citic Financial Asset Management Co. Ltd. The company is subject to high consumption restrictions due to Wanda's debt issues, and some of its office properties were put up for judicial auction.
- Everbright Xinglong Trust Co. Ltd.
- Everbright Xinglong Trust Co. Ltd. (光大兴陇信托有限责任公司) is a Chinese trust company. It initiated a high consumption restriction order against Dalian Wanda Group and associated entities due to financing of a Wanda development project in Wuhan. The trust has pursued legal action against Wanda, including freezing bank deposits and seizing properties.
- Dalian Wanda Commercial Management Group Co. Ltd.
- Dalian Wanda Commercial Management Group Co. Ltd. used to fully own Wuhan Chuhehanjie Cultural Tourism Investment Co. Ltd., another developer. Its core property arm, Wanda Real Estate Group Co. Ltd., now controls 90% of Wuhan Chuhehanjie.
- China Citic Financial Asset Management Co. Ltd.
- China Citic Financial Asset Management Co. Ltd. (CCFAM) co-controls Wuhan Chuhehanjie Cultural Tourism Investment Co. Ltd., developer of the Wuhan central cultural district project, through an investment partnership. CCFAM holds a stake in Wuhan Chuhehanjie alongside Wanda Real Estate, which controls the remaining shares.
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What Happened When
- 2011：
- Wanda Group invested 50 billion yuan to build the Wuhan central cultural district project, with Wuhan Chuhehaijie as its developer.
- May 9, 2023：
- Everbright Trust applied to Lanzhou Intermediate People’s Court for pre-litigation property preservation, requesting an immediate freeze of Wanda Group and Wanda Real Estate’s bank deposits and seizure of properties.
- May 10, 2023：
- Lanzhou Intermediate People’s Court approved Everbright Trust’s requests for property preservation against Wanda Group.
- 2023：
- Wanda Group sold its Chinese mainland cinemas, shopping malls, and hotels, raising billions of yuan to repay debt.
- July this year (2025)：
- Lanzhou Intermediate People’s Court issued high consumption restriction order on Dalian Wanda Group, Wang Jianlin, and related firms; enforcement amount was 186 million yuan.
- August this year (2025)：
- 12 office properties owned by Wuhan Chuhehanjie were listed for judicial auction as part of the asset seizure.
- September 15-16, 2025：
- Lanzhou court held a public auction of the 12 office properties; no bidders registered.
- By September 28, 2025：
- High consumption restrictions on Wanda and Wang Jianlin became publicly known via Qichacha.
- September 29, 2025：
- Information about Wang Jianlin’s inclusion in the consumption restriction order was deleted from a government website.
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