Yida Plans Theme Park Expansion to Become `China's Disneyland,' CEO Says

China Yida Holding Co., a media and entertainment company, plans to develop more theme parks to take advantage of increased tourism and become the “Disneyland of China,” said Chief Executive Officer Chen Minhua.

The Nasdaq-listed company has two parks with cultural themes in China and has four more under development, Chen said in a phone interview from Beijing. The company’s expansion plans will be aided by nationwide wage increases, which will boost consumer spending and accelerate tourism, he said. China Yida plans to boost the tourism component of its business as a percentage of revenue to more than 50 percent from 41 percent, he said. Chinese tourists are spending an average of 123 yuan to 206 yuan at the company’s parks, he said.

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