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The mainland’s largest commercial property company has sold off billions of yuan worth of assets to shrink its debts in recent years, but Dalian Wanda is once again eyeing growth by way of new retail complexes and movie theatres, Nikkei Asia reports, in a move sources see as appeasing Beijing’s focus on domestic investment.
As it takes aim at China’s robust consumer demand, the group appears undeterred by new variants of the coronavirus. In September, Dalian Wanda added a new wing to its Wanda Plaza property in Shanghai. It operated 405 Wanda Plazas as of November — a 10 percent jump from the same period in 2020. Subsidiary Wanda Film Holding is China’s largest cinema operator and opened 97 locations in 2020, followed by 12 in the first half of 2021. The conglomerate’s debts, however, continue to pose risks.
