DALIAN -- Heavily indebted commercial property developer Dalian Wanda Group is again growing its two main business: building huge malls to satisfy the wants of Chinese shoppers, and keeping them entertained in shiny new movie theaters.
The conglomerate has opened a string of commercial complexes and cinemas to take advantage of rebounding consumption in China. After a crackdown by authorities led it into financial difficulties, the company, also known as Dalian Wanda, sold off asset sales and cut its debts. Now it is again expanding aggressively. But its debt level remains high and the strategy carries a risk.