A delegation led by Liu Haibo, vice-president of Dalian Wanda Group Co Ltd, a Chinese conglomerate company with activities in real estate, tourism, hotels, and entertainment, visited Wudang Mountains in Shiyan city, central China’s Hubei province on Feb 14, wudangshan.gov.cn reported.

Li Faping, vice-mayor of Shiyan city and director of the Wudang Mountains Tourism and Economic Special Region management committee, received the delegation. Li said that Wudang boasts a long history and profound Taoist culture, and the well-known world cultural heritage site is also the source of the South-to-North Water Diversion Project; and so it has a promising future.

Li warmly invited the Wanda Group to invest in Wudang Mountains, and added the tourist attraction will provide support in regards to policies, the environment and services. Liu expressed his confidence in Shiyan’s economic development and said the group intends to formulate a plan on investing in Wudang for the cultural tourism industry.

After the discussion, the delegation visited the Tai Chi Lake new area and some scenic spots. On Nov 5, 2013, Wanda Group signed an agreement with the Shiyan Municipal People’s Government on the Wanda Square project in the city.

With an investment of 3 billion yuan ($494.1 million), the square, covering an area of 17.07 hectares, will be composed of office buildings, 5-star hotels, a large business center, pedestrian streets with boutiques and high-level residential areas.

Edited by Brian Salter