Tycoon plans $8 billion Chinese Hollywood

In a glitzy, star-studded red carpet event on Sunday, Wang Jianlin said his company, Dalian Wanda Group, will build a state of the art film studio complex in a bid to dominate China's rapidly growing movie market.

The tycoon's red carpet event in Qingdao underlined his outsized ambitions for China's entertainment industry. Nicole Kidman, Ewan McGregor, Catherine Zeta-Jones, John Travolta and Leonardo DiCaprio rubbed elbows with Chinese stars including Zhang Ziyi, Jet Li and Tony Leung at the event

Wang's success in attracting the A-list actors to his launch, held the same day as the Emmy entertainment awards show in Los Angeles, also highlights how the center of gravity in the global film industry is shifting to the east.


[link to movies.yahoo.com]

Makes you wonder just how much these actors were paid!