The establishment ceremony of Beijing Wanda Culture Industry Group was held at Beijing Wanda Sofitel Hotel on December 1.

Beijing Wanda Culture Industry Group is China’s largest cultural enterprise, with registered capital of 5 billion yuan ($80 million), total assets of 31 billion yuan ($5 billion) and expected revenue of 22 billion yuan ($3.5 billion) in 2012.

The group has 11 companies, involving 9 fields, including Wanda Cinema Line, AMC Theatres (the United States), Wanda Film & TV Media Company, Wanda Dragone Performing Arts Company, Wanda Film Technology Entertainment Company, Wanda Theme Park Company, Wanda Gallery, Superstar KTV Chain, China Times (business & financial weekly magazine), Global Business (monthly business magazine) and Popular Cinema (film magazine).

Lu Wei, Vice Mayor of Beijing, and Wang Jianlin, Chairman of the Wanda Group, attended the ceremony.

Chairman Wang said at the ceremony that Beijing Wanda Culture Industry Group is expected to have revenue of 80 billion yuan ($12.8 billion) in 2020, becoming one of the world’s top 10 cultural enterprises.

(Editor: Guan Xiaofeng)