Wang Jianlin, China’s second-richest man, is usually seen in the company of movie moguls, footballers and billionaires. But last week he was deep in the highlands of Guizhou, China’s poorest province, opening the largest ever charity project by his company, real estate conglomerate Dalian Wanda Group.
It had all the touches of a typical Wanda opening ceremony — blaring music, booming announcer and a phalanx of assistants in miniskirts. But in place of the usual foreign trophy asset such as a film studio or football club, Mr Wang was handing the oversize key to a Rmb1.5bn ($220m) ethnically themed tourism village over to the local government of Danzhai County, home mostly to members of the Miao ethnic group.
It appeared to signal a new era is at hand for China’s tycoons. Once brash, globetrotting and acquisitive, they are now at pains to maintain the image of socially responsible sustainability — and, crucially, investing at home.