(XINHUA)

Wang Jianlin, Chairman of Dalian Wanda Group, is expanding the company's investment in the film market. Wanda Group has established a $400-million fund to invest in foreign films. It has signed a framework agreement with Sony Pictures Entertainment and Walt Disney Pictures to release English films around the world.

In 2012, Wanda Group purchased AMC, making AMC the biggest cinema operator in the world with nearly 7,000 screens, accounting for 10 percent of global market share. It is negotiating to purchase several European and Australian cinemas.

Wang became chairman of Wanda Group in 1989. By the end of 2012, Wanda had made inroads into four industries including real estate, high-end hotels, tourism and chain stores with an annual revenue of 142 billion yuan ($23.1 billion).