Hengdian Looks to Airport Business to Prop Up Movie, Tourism Operations
Ren Xiaozhang
DATE:  Aug 20 2018
/ SOURCE:  Yicai
Hengdian Looks to Airport Business to Prop Up Movie, Tourism Operations Hengdian Looks to Airport Business to Prop Up Movie, Tourism Operations

(Yicai Global) Aug. 20 -- Hengdian Group, the operator of China's largest movie studio, aims to expand its position in the aviation industry to support operations in other sectors.

The company will build its aviation business into a pillar industry to support ongoing concerns in film and television as well as tourism, a leading figure from the Zhejiang province-based firm told Yicai Global.

"Both our movie and television and tourism units are in urgent need of support from the aviation industry," Ge Jingbing, chairman of Zhejiang Hengdian Aviation Industry said.

Hengdian recently inked an agreement with Hangzhou Urban Studies Association to study the establishment of the Hengdian Airport Cultural Tourism Economic Zone, covering some 121 square kilometers. The area would support the development of Dongyang Hengdian General Airport, which directly serves the company's nearby flagship movie studio.

Hengdian World Studios, sometimes called Chinawood, is home to more than 1,300 movie and television companies. The site also acts as a national tourist attraction with some 18.7 million visitors last year. Tourist numbers are expected to grow further upon the completion of new scenic spots.

The enterprise aims to create an integrated movie and television, leisure and aviation town at the exisiting studio's site through its efforts, capable of catering to some 30 million to 50 million tourists per year.

The group will adopt an industrial development strategy using the movie and television and aviation as catalysts to create three areas of synergies with the Hengdian's other businesses, namely, culture, tourism and services and manufacturing.

The company will promote joint projects related to flight and culture such as training, movie and television, exhibitions, science and education, competitions, books and advertising. In terms of synergies between aviation and tourism, Hengdian will push for airborne tours of the studio, chartered flights and business air travel. The group will incorporate parts manufacturing, maintenance, refueling and information development when building cross-projects between air travel and manufacturing.

The company has long had a foothold in the local aviation sector. In 2002, Hengdian acquired Donghua General Aviation leading to the opening of Dongyang General Airport this year.

Founded in 1975, Hengdian Group has developed into a sprawling conglomerate covering the electronics, pharmaceuticals, movies and tourism. The company is made up of more than 200 enterprises and listed companies.

Editor: William Clegg

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Keywords:   Hengdian Group,Movie And Television City,Airport Economic Region