China Opens Theme Park in Battle With Disney

China Opens Theme Park in Battle With DisneyChina Opens Theme Park in Battle With Disney

Chinese conglomerate Wanda on Saturday opened its first theme park, with its billionaire boss declaring war on Disney weeks before the American entertainment giant launches a similar attraction in Shanghai.

"Wanda City", in southeastern Nanchang, comprises a giant mall set over two square kilometers, as well as an 80-hectare theme park boasting "the highest and longest roller coaster and the highest drop tower in China", according to a statement by the group, AFP reported.

The project represents an investment of $3.4 billion, the statement said.

A week before, Wang—China's richest man, according to Forbes magazine—said he was setting his sights on Disney, which in June will open its first theme park on the mainland.

"This craze for Mickey Mouse and Donald Duck is over, the period when we would blindly follow where Disney led has been gone for years," he told CCTV.

After the site in Nanchang, Wanda plans to open six more theme parks in China within three years and plans to have around 15 in the country by 2020.