China’s richest man builds world’s biggest indoor ski resort, giving Harbin year-long winter
Wang Jianlin made his first public appearance since Wanda Group was named on June 22 among several global asset buyers in a probe by the Chinese bank regulator. No wrongdoing was indicated
Harbin Wanda City, the US$6 billion resort development built by China’s wealthiest tycoon Wang Jianlin, opened for business on Friday, the conglomerate’s sixth theme park as it pushes further into the country’s leisure and entertainment industry to compete with Disneyland and Universal Studios.
Located in the city -- near the country’s northern border with Russia -- with China’s longest and harshest winter, the resort features Russian architecture, a movie cineplex and a grand piano-shaped indoor ski resort that allows 3,000 people to ski or snowboard on six runs, all in an area covering 1.6 square kilometres. Up to 30,000 people will be hired to work in the resort when its completed, Wang said.
“Harbin is known as the city of ice, which also happens to be the main theme of this resort, so we will together provide winter sports throughout the year,” Wang said.
Fund of ByteDance founder Zhang Yiming gets Hong Kong asset management licence
The investment fund started by the founder of the Chinese owner of TikTok now has regulatory approval to provide services to professional investors
The company, based in the Central business district at the International Finance Centre, lists Liu Bide and Liu Zhao as responsible officers. The former did not have any other records with the SFC, while the latter was a representative of Barclays Capital Asia from 2013 to 2015.
Nvidia faces US$1 billion fine if China probe finds violation of antitrust laws, experts say
The investigation into Nvidia’s previously-approved Mellanox acquisition marks the first time that China’s market regulator has opened the books on a closed deal
China granted “conditional” approval for the deal in April 2020, noting that Nvidia agreed to supply its graphic processing unit (GPU) and connection products to the Chinese market based on “fair, reasonable, and non-discriminatory principles”, and that it would ensure their compatibility with other companies’ hardware.