Billionaire Chinese tycoon Wang Jianlin has unveiled his plans to build a competing park to give stiff competition to the new Disneyland theme park in Shanghai. Disney will inaugurate its first theme park in mainland China on June 16 this year. Jianlin's Dalian Wanda Group also engages in the theme park business.

Like Us on Facebook

Speaking on Chinese state television, the entertainment mogul said, "Disney really shouldn't have come to China. Its financial prospects don't look so good to me." He said that Shanghai's climate is not conducive for an outdoor theme park.

Disney's theme park in China has had a long gestation period. It was originally scheduled to be opened in 2015, but faced many hurdles that forced the launch to be postponed. The theme park is now set to go operational in June. The park highlights Shanghai's traditional architecture and features themes from the Chinese Zodiac calendar.

"One tiger is no match for a pack of wolves -- Shanghai has one Disney, while Wanda, across the nation, will open 15 to 20," Wang said. The company is planning to open a Wanda City in Jiangxi province this weekend. The entrance ticket for the park is priced at 198 yuan ($30) on most days, in comparison to 370 yuan ($56) charged by Shanghai Disneyland.

Wang's Wanda Group also aims to dominate theme park business in China and across the world. He plans to overtake Disney as the world's leading tourism company by 2020. Wang has revealed that he Wanda will open "two or three" Wanda City leisure resorts outside of China by the end of this year. The company plans to invest 20 to 30 billion yuan ($3 to $4.6 billion) in each resort. Wang also stated that his company will set up a Wanda City near London as well.

"The project has significance for us - London attracts tourists from around the world," he said.

TagsDisney, wang jianlin, Dalian Wanda, Theme Parks China, Shanghai Disneyland