Wanda to Invest $1.74 Billion for Construction of Communist Theme Park in Birthplace of Mao’s Revolution

Park in northwestern China's Yan’an to celebrate 100th anniversary of Chinese Communist Party’s founding

Wang Jianlin (C), CEO of Dalian Wanda Commercial Properties Co. arrives for the company's IPO at the Hong Kong stock exchange on December 23, 2014. Isaac Lawrence/AFP/Getty Images

China’s Wanda Group, a multinational conglomerate known for its business in real estate and cinemas, has announced a 12-billion yuan ($1.74 billion) investment to build a communist-themed park and resort in Yan’an, the city that during the Chinese civil war served as the main base of the Chinese Communist Party (CCP).

Wanda’s investment comes in anticipation of the 100th anniversary of the founding of the CCP, established in July 1921 as a tiny radical group in Shanghai.