Wanda opens theme park to rival Disney

A view of Nanchang Wanda Park May 26, 2016. [Photo/VCG]

The resort's huge attractions include a theme park, a shopping mall, restaurants and hotels.

Wang told the China Central Television recently that Shanghai Disneyland relied too much on out-of-date icons such as Mickey Mouse and Donald Duck, lacked anything new and had cost too much.

Wang said Wanda would make it impossible for Disney China venture to make profit in the next 10 to 20 years.

Wanda, a leading commercial real estate developer in China, has turned its investment toward the entertainment and tourism sectors. It has built three holiday resorts in Wuhan, at Changbai Mountain and in Xishuangbanna.