Wang Jianlin, chairman of Wanda Group, said that the Group will start its “fourth transformation” at the 2014 Annual Meeting of Wanda Group.

At the 2014 Annual Meeting of Wanda Group, Wang Jianlin, chairman of Wanda Group, said that the Group will start its “fourth transformation”.

Wang said, “Compared with the former three transformations, the fourth transformation will be broader and represent the future direction of Wanda Group.” According to Wang, this transformation will focus on developing services-oriented enterprise, including restructuring Wanda Group and Wanda Commercial Properties.

Wanda Group told reporters in January 18th that Wanda Group will transform in two aspects. First, Wanda Group will transform from China local enterprise to multinational enterprise. Second, Wanda Group will focus on being services-based enterprise instead of real estate-based enterprise.

Earlier, Wanda has announced the development goals by 2020 that Wanda should own 1 trillion yuan assets, 600 billion yuan revenue, and 60 billion yuan net profit and become a world-class multinational corporation until 2020.