CHINA TOPIX

Updated 8:47 AM EST, Fri, Mar 05, 2021

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Why The Richest Man In China Picks UK As Best Place To Invest

wang jianlin

Although Wang Jianlin is the chair of Dalian Wanda, the biggest property firm in China, his investments in the UK is not limited to real estate. He wants to invest US$1 billion in the country's entertainment industry.

Wang also is thinking of purchasing an English or Italian football club, he told BBC. Several English clubs had actually approached him, but he only buys if the price is right, which means he got a good deal when he acquired a 20 percent stake in Atletico Madrid, the Spanish club.

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As a well-traveled man, Wang has opportunities to compare markets for investments, and he observes that other investors too admire Britain's market.

He stresses that Britain has one of the highest degrees of free market openness. Investments are not scrutinized, everything is up to the investor to decide. In contrast, while Wang also likes the U.S. market, he cites as a negative factor the power of the Committee on Foreign Investments to review investments and even block it.

His investments are actually spread, not limited to the UK. Wang owns Sunseeker, a British yacht maker for James Bond movies. He purchased the AMC cinemas in the U.S. and InFront, a Swiss firm which owns the rights for the FIFA World Cup.

According to Forbes, with his US$24.2 billion wealth, Wang is once more the wealthiest man in China after wresting the title from Alibaba founder Jack Ma.

As for his homeland, Wang thinks that China should open more over time, including being open to the privatization of land, reports Hellenic Shipping.

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