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China's Wanda Offers Hollywood 40 percent Production Rebate

Wednesday, October 19, 2016   (0 Comments)
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From The Hollywood Reporter:

Wanda has offered Hollywood a carrot — in the form of a lucrative 40 percent production rebate — but will productions bite?

Dalian Wanda Group chairman Wang Jianlin, Asia's richest man, brought his best game to Hollywood on Monday night, rolling back the curtain on his company's $8.2 billion film studio project in Qingdao, China.

He had plenty of A-list local support, too — Matt Damon, Los Angeles mayor Eric Garcetti and Academy president Cheryl Boone Isaacs all lent their voices to Wanda's pitch during the glitzy gala at the Los Angeles County Museum of Art.

The question that hangs in the air in the aftermath — as Wang boards his private jet back to Beijing — is whether Hollywood will buy what Wanda is selling on the eastern coast of China.

So far, the industry consensus appears to be: cautiously interested.

- Read the full article at HollywoodReporter.com


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