XT … The Wanda Way by Jianlin Wang
Jianlin Wang, sometimes dubbed “the Walt Disney of China” is chairman of Dalian Wanda Group which bought AMC Theatres in the US in 2012 and also has a 20% stake in Atletico Madrid football club. He says that the Chinese entertainment industry is booming at a time when censorship rules are being devolved from central to regional government. 15,000 movie screens were built in China last year alone. “We have the world’s second largest entertainment market”, he says. “Profitability comes first”.
He also believes that sports and healthcare are significant areas of innovation and growth in his home country. Sports events are big sources of capital, and he plans to branch into this area by organising more tournaments in China. It’s still early days, he says. “It’s getting better in China, but we’re not able to compete with Europe just yet”. In addition to entertainment and sports, Wang says he is considering investment in the burgeoning private healthcare system in China. Until recently, healthcare was controlled by the government but private practice has now been permitted. Private hospitals could be an attractive source of new growth as wealth increases in Chinese society.
Wang Jianlin’s book The Wanda Way: The managerial philosophy and values of one of China’s largest companies includes his renowned 2013 ChinaCentral Television Voice interview, his speech to Harvard Business School, and his business philosophy on Wanda’s real estate, resort, and movies.