DALIAN Wanda Group plans to unveil a subsidy program to attract Hollywood filmmakers to its new multibillion-dollar studio in the eastern Chinese city of Qingdao, a person with direct knowledge of the plan said.

    The chairman of the property-to-entertainment conglomerate, Wang Jianlin, is expected to unveil the program, which offers to subsidize 40 percent of production costs, at an event hosted in Los Angeles today.

    The subsidy will be jointly funded with the Qingdao government, said the person, who asked not to be identified.

    The subsidy will apply to feature films and television shows. Costs eligible for the rebate include stage and equipment rentals, set construction and local accommodation.

    Wanda’s billionaire chairman is building a footprint in Hollywood through a series of deals, part of China’s growing investment in the U.S. entertainment industry.

    The company has bought “Jurassic World” producer Legendary Entertainment and U.S. cinema chain AMC Entertainment Holdings.

    With the Qingdao studio, Wanda will be competing with dozens of U.S. states and countries including Britain and New Zealand that have lured filmmakers out of Hollywood with tax incentives and rebates.

    (SD-Agencies)