LOS ANGELES (Reuters) - The red carpet was out on Monday night (Oct 17) as China's biggest media mogul touted incentives to woo Hollywood.
Los Angeles mayor Eric Garcetti. in introducing China's richest man, Mr Wang Jianlin, said: "To my friend, Chairman Wang. Welcome to your second home in Los Angeles."
The US has practically become a second business home to Mr Wang's company, Dalian Wanda. He owns Jurassic World producer Legendary Entertainment and cinema chain AMC Entertainment and has deals to buy Carmike Cinemas and Dick Clark Productions.
He urged Hollywood film-makers to use his gigantic new production studio in the east coast Chinese city of Qingdao, dangling a 40 per cent rebate on certain filming costs there. That puts Wanda in competition with several US states that offer tax incentives to lure producers.
Another lure: Mr Wang predicted China's box office would catch up to that of North America by 2018. To make it in China, he said film-makers need to include what he called "Chinese elements" in their movies.
Some lawmakers are concerned about the impact Chinese investments could have on US media.
Mr Wang said he was speaking from a "business perspective", not a political one. His rebate is - in his words - "an opportunity for Hollywood, not a competition for Hollywood".