Company defends Hainan real estate venture

A film company has defended a real estate project that has been publicly criticized by a well-known Chinese TV talk-show host.

Changying Group Co Ltd said its planned movie theme park in Hainan province has received the approval of the central government, the Yangtze Evening News reported on Aug 16.

China Central Television's Cui Yongyuan challenged Changying Group in his micro blog on Aug 12 after Cui learned that the company was planning the real estate project in Hainan. Cui said he believed the film studio should not become a real estate developer.

Changying Group, formerly known as the Changchun Film Studio, considered the cradle of new China's film industry, wants to build a 467-hectare movie theme park in the island province with 43.6 billion yuan ($6.86 billion) investment.

Yan Yang, the company's assistant general manager, said that the project was not just a real estate venture, but one of movie filming and production, as well as entertainment.

"The project was approved by the central governmental department concerned," Yan said.