Published: 7:00pm, 3 Jul, 2015 Updated: 7:11pm, 3 Jul, 2015
China’s Dalian Wanda Group, the country’s largest real estate developer, has made a 3.58 billion yuan (US$576.8 million) investment in online travel service platform Ly.com. Wanda is now either operating or about to launch a dozen large-scale cultural and tourism projects in China, including water-themed amusement parks and indoor skiing venues. The Chinese government also plans to invest heavily into its film industry, with an estimated $45 billion of spending planned for 2017 alone. Chinese tourists undertook more than 3.6 billion individual and group tours in China last year, according to official data.