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Shenzhen Huaqiang Holding Limited will establish a cultural and technological theme park in Johannesburg, South Africa with the investment of USD 250 million.
According to the agreement, Huaqiang is going to build a theme park - Fantawild Adventure in South Africa with the support of the Central Africa Development Fund and the National Development Bank. The park is 770,000 square meters and is going to be the most technological, the biggest and the most influential Chinese culture theme park. The park is divided into three sections - Chinese culture section, African culture section and World culture section. Huaqiang built up a similar theme park in Wuhu, Anhui that has been called the Chinese ‘Disney'.
Huaqiang established Fantawild Adventure based on the principle of culture and technology; it has built three theme parks in Wuhu, Shantou and Chongqing respectively. The company put emphasis on the internationalization; more than 20 of its special movie systems that have acquired intellectual property rights have been exported to more than 40 countries and regions such as the United States, Canada and Italy. Huaqiang also exported a theme park worth EUR 70 million to Iran in 2008; this enabled China to become the 2nd largest export country of theme parks following the United States. The company generated more than RMB 50 million in 2008; there was a 100% increase of revenue and a 164% growth of profit in the first quarter of 2009 compared to the same period in 2008.
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