Wanda courts Hollywood to its US$8bn ‘Movie Metropolis’ studio in Qingdao
Wanda Group chairman unveils US$150 million annual rebate programme for ‘qualifying productions’ at Qingdao studio scheduled to open August 2018
China’s richest man Wang Jianlin has unveiled an incentive programme to attract foreign filmmakers to his new studio complex in Qingdao, as part of efforts to foster a major production hub that will help feed China’s growing appetite for cinema entertainment.
Wanda Group, the flagship of Wang’s entertainment, real estate and finance conglomerate, will provide up to a 40 per cent rebate towards production costs at Qingdao Oriental Movie Metropolis.
The rebate programme, valued at US$150 million a year, will be jointly funded by Wanda and the Qingdao municipal government.
The rebates will be extended to “qualifying productions” to help cover production costs ranging from
stage rental and set construction to equipment rental and accommodation. Post production costs are also eligible to qualify for the rebate.
The US$8.2 billion Qingdao Oriental Movie Metropolis will feature 30 sound stages, including an underwater stage and the world’s largest indoor stage due for completion in August 2018. The studio will form part of a mixed-use facility that will include amenities ranging from a convention centre to hotels. The idea is to create a self contained community that will attract foreign filmmakers and their families.