Wanda Will Invest CNY5 Billion For E-commerce Development

News Source: ChinaTechNews.com

Wang Jianlin, chairman of Wanda Group, announced during the company's semi-annual work conference that the company will focus CNY5 billion to enhance the group's online commerce efforts.

Wang revealed that Wanda will cooperate with China's largest e-commerce providers to establish Wanda e-commerce and the first-phase investment will be estimated at CNY5 billion. Wanda e-commerce aims to discover a profit-making model in about three years.

According to information revealed by Wang, Wanda Group's assets reached CNY460 billion in the first half of 2014, a year-on-year increase of 21%; and its revenue was CNY92.07 billion, a year-on-year increase of 24% and achieving 38% of the annual target of the company.

Meanwhile, Wang said that during the first half of 2014, the customer traffic of Wanda Plaza retail outlets reached over 720 million p...

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