December 20, 2017 / 3:50 AM / 8 months ago

China's Wanda planning "large-scale" capital cooperation with Suning

SHANGHAI, Dec 20 (Reuters) - Chinese conglomerate Dalian Wanda Group is planning capital ties with retail giant Suning Commerce Group, Wanda’s billionaire founder Wang Jianlin said.

“From next year, Wanda and Suning will arguably be among the companies which embark on the deepest cooperation,” he said on Tuesday at an event held by Suning, according to a copy of the speech provided by Wanda.

“We will also have capital cooperation. Next year, there will be such cooperation on a large scale.”

The two companies signed a cooperation deal in 2015 for the electronics retailer to open stores at Wanda Plazas - which are commercial real estate development projects - throughout China. (Reporting by Brenda Goh; Editing by Edwina Gibbs)

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