QINGDAO—Billionaire Wang Jianlin boasted that this seaside city would one day rival Hollywood as a global film capital. But as Wanda Studios Qingdao marks its official opening Saturday, attaining that status seems even more remote than when Mr. Wang made his declaration five years ago. Mr. Wang’s Dalian Wanda Group spent nearly $1 billion building 30 soundstages and state-of-the-art production facilities, people familiar with the matter say—all part of a vast, $8 billion Qingdao Movie Metropolis that also includes apartments,...

Source: Wall Street Journal April 27, 2018 09:31 UTC