Wanda to Invest $9.5 billion in China Tourism Park

China business leader Wang Jianlin recently signed an agreement to invest $9.45 billion (63 billion yuan) to build a tourism and sports complex in Jinan city. 

The project is planned to have malls, sports facilities, hotels and a theme park. 

The park in the eastern city of Jinan will be the first Wanda project to have an emphasis on sports, as Chinese firms look to tap into growing interest in everything from soccer and ice hockey to marathon running. 

Work on the Jinan Wanda City is expected to begin in 2017 and open in 2021.