Dalian Wanda

The data is further evidence of the toll China's Covid Zero strategy is taking on consumer spending and the economy.

They are pressing for certain concessions as well as relaxation in some regulatory norms

Chinese real estate major had revealed plans to invest $10 bn in India, with the bulk going to an industrial park near Sonepat in Haryana

The incentive will be paid from a five-year, $750 million fund created by Wanda and the local government in Qingdao

The production rebate will be jointly funded by Wanda and the local Qingdao government

Wanda has been investing heavily as it seeks to triple revenues to 150 billion yuan ($22.5 billion) from its cultural division by 2020

The Wanda Group plans to invest $10 bn in the country, the vast majority of which would go into an industrial park at Kharkhoda near Sonepat in Haryana