Success of Wang’s Wanda brings fashion culture to inland cities

Source:Global Times Published: 2015-5-14 23:08:01

Wang Jianlin, chairman of Dalian Wanda Group, recently gave some long replies over certain public concerns in an interview with The Beijing News. Since Wang won the title of both "China's richest man" and "the wealthiest man in Asia" this year, he, his family, and his Wanda Group have come increasingly into the spotlight of public opinion. Some influential foreign media even described the rise of Wang and Wanda as a result of his "high-level network."

Wang didn't respond to the interpretation made by Western media. But he has reaffirmed for quite a lot of times in public that Wanda Group has been operating under the doctrine of "stay close to the government and distant from politics."

He emphasized during the interview that the core of this conception is to figure out its own business model with an emphasis on the market, and his dream is to create an esteemed enterprise that could attract respect from all over the world.

Wanda Group is best known for its flagship Wanda Plazas across China. There are a total of 109 such plazas up to now, and 26 and 50 more will open soon this year and next year, which are expanded from the first- and second-tier cities to the third- and fourth-tier cities, from individual stores to comprehensive commercial real estate complex.

The Wanda Group has not only taken advantages of China's rapid urbanization, but also become a driving force of promoting the development of the country's urbanization. This might be the real key to its success.

Wanda energetically pushes its business into the third- and fourth-tier cities, bringing the new consumption concept to the entire country, while spreading cultural and fashion elements that are embraced by the young and middle class. It has been playing a leading role in upgrading Chinese people's consumption and cultural understanding against the background of the country's rapid economic growth.

Many cities in China with a population of several hundred thousand or even millions of people are supposed to become big global cities.

However, due to the cities' lack of fashion culture, the younger generations who grow up there tend to feel "behind the times." This psychological gap is one of the important reasons why they believe in social inequality.

Now that Wanda brings the standard of fashion culture from the first-tier cities to China's inland cities, this has not only created the appeal for more consumption, but also increased people's satisfaction and happiness.

For many in the smaller cities, stepping into Wanda Plaza means not only consuming, but also sharing in the country's mainstream spirit.

China's most successful companies should not only release their energy in business, but also participate in social construction and lead the hope for grass-roots toward a better future.

During the interview, Wang admitted that it is hypocritical to ignore the government's role in the real estate industry. The truth is, no big companies anywhere can win the title of "the wealthiest" without any connection with the government.

For many times when a US president visits other countries, there are always quite a few influential business leaders going along with him.

The government should under no circumstances collude with enterprises for business interests. But both sides could bring about positive interactions and contribute to social development together. This is a common practice all over the world.

In the meantime, the Chinese public should encourage private corporations to be socially responsible, and inspire them to have greater ambitions in global competition. If they could reach the top of global business, they will definitely boost our national pride.

The article is an editorial of the Chinese edition of Global Times on Thursday.

Posted in: Viewpoint

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