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China Strategy: Wanda in China

Dalian Wanda Group was founded in 1988 and operates in five major industries including commercial properties, luxury hotels, tourism investments, cultural industries, and department store chains. The company has assets of 31 billion dollars and an annual income of 17 billion dollars. The company has already opened 49 Wanda Plazas, 28 five-star hotels, 726 cinema screens, 40 department stores and 45 all inclusive karaoke centers throughout the country. By 2015, the company aims to become a world-class enterprise by increasing its assets to 48 billion dollars and income to 32 billion dollars.

Wanda Group’s Corporate Principles

Wanda Group is an enterprise with a tradition of innovation. Wanda’s business strategy revolves around this innovation and has also facilitated company development. Wanda has improved its internal mechanism for innovation and formed a unique innovative culture. Wanda Group has established a sound corporate management system and become a forerunner in China in system improvement. Wanda Group’s strong sense of social responsibility features a pursuit of “not only the quantity of wealth but also the quality of wealth”. Wanda Group views talents as the core capital of the enterprise. It now employs close to 50,000 people. Every employee on its management team has obtained a bachelor’s degree and more than 40% of the team holds a master’s degree or PhD. In addition, 70% of the senior management team holds at least a master’s degree. Wanda Group also has the lowest employee attrition rate among large enterprises in the country. Good enterprise development prospects, a wide platform for development of individual careers, harmonious and simple interpersonal relationships, first-class and lucrative material remunerations, and a unique and excellent enterprise culture are the core elements for the cohesiveness of Wanda Group.

Wang Jianlin

Wang Jianlin, born in 1954, is the board chairman and president of Dalian Wanda Group Co., Ltd. He is a deputy to the 17th Party Congress, a member of the National Committee of the Chinese People’s Political Consultative Conference and a vice chairman of the All-China Federation of Industry and Commerce. He also holds many other important social positions, such as the vice chairman of the China Association of Enterprises, the China Entrepreneurs Association, the China Federation of Commerce and the China Real Estate Industry Association. The government has rewarded Wanda Group with great honors for its efforts to uphold its high standards of social responsibilities. In November 2005, Wang Jianlin won the Individual Award of China Charity Award issued by the Ministry of Civil Affairs. In March 2007, Wanda Group won the “most loving Chinese enterprise” title of the second China Charity Awards issued by the Ministry of Civil Affairs. In 2008, Wang Jianlin won the “most loving Chinese People” title of the third China Charity Awards issued by the Ministry of Civil Affairs. In October 2005, Wang Jianlin was rated by China Charity Federation.


Picture:Wang Jianlin