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LequteMan
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One of China's richest businessmen Wang Jianlin plans to invest 50 billion yuan ($A8.6 billion) to build the country's version of Hollywood in the eastern city of Qingdao.
He said on Sunday that his company, Dalian Wanda Group, will build a massive, state-of-the-art film studio complex in a bid to dominate China's rapidly growing movie market.
The Qingdao Oriental Movie Metropolis will feature 20 studios, cinemas and a film museum.
'Chollywood' is expected to be fully operational by 2017.
The company has signed a preliminary deal with "a number of global film and television giants and talent agencies" to shoot about 30 foreign films a year. The names of these companies were not revealed.
Dalian Wanda operates hotels and department stores and bought the AMC cinema chain last year for $US2.6 billion ($A2.79 billion).
