Wanda Group is set to open its first outdoor theme park dubbed "Nanchang Wanda City" in Jiangxi province on Saturday. The opening of Wanda Group's ambitious outdoor theme park is perfectly timed ahead of the inauguration of the much-anticipated Disney Resort in Shanghai.

The Disney Resort in Shanghai will officially open its doors to visitors on June 16. Millions of tourists are expected to visit Shanghai's Disneyland Park during the initial weeks of its launch.

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Earlier this week, Chinese newspaper The Beijing News claimed that the opening of the Disneyland Park in Shanghai may push up the airfares to the city. The newspaper estimates that nearly three million air travelers will fly to Shanghai in 2016 to visit the Disney Resort.

However, Wanda Group's billionaire founder Wang Jianlin has vowed to give Disney a run for the money. "We will make Disney's China venture unprofitable in the next 10 to 20 years," Jianlin said in an interview on a state-owned television channel.

Jianlin added that Disney should not have entered the Chinese market, claiming that the US giant has very little knowledge about the local market.

To keep up the pressure on Disney, Wanda has kept the ticket prices of 'Nanchang Wanda City' comparatively very modest. The weekday tickets would cost 198 Yuan ($30) and 248 Yuan ($38) on weekends and public holidays. Meanwhile, Disney's weekday tickets would be 370 Yuan ($56) and weekend 499 Yuan ($76).

Wanda Group also plans to build several new theme parks across the country. 'Hefei Wanda City' in Anhui province is expected to open in September while five more theme parks are under construction in Heilongjiang, Guangdong, and Sichuan.

Tagschina, Disney Resort Shanghai, wanda group, wang jianlin, Nanchang Wanda City