Wanda Group founder Wang Jianlin's high consumption restriction has been lifted

Mainland media reported last Sunday (28th) citing "Qichacha" that Wanda Group and its legal representative Wang Jianlin have recently been restricted from high consumption; as of today (29th), several domestic media reports stated that inquiries show that the China Execution Information Public Network no longer has information on the "high consumption restriction" for Wanda Group Chairman Wang Jianlin. Meanwhile, according to Qichacha information, there is no indication of a "high consumption" risk for Wang Jianlin.

Domestic media reported that last Friday (26th), the Intermediate People's Court of Lanzhou City, Gansu Province issued a consumption restriction order against legal representative Wang Jianlin due to Dalian Wanda Group's failure to fulfill a debt of 186 million yuan (the same below). The case trial process shows that on July 16th, Dalian Wanda Group, Wanda Real Estate Group, Wuhan Wanda Cultural Tourism Real Estate, Wang Jianlin, and others were subject to compulsory enforcement of 186 million.

Reports cited Qichacha showing that Wanda Group has had multiple pieces of information as an executed party, with a total amount executed exceeding 5.2 billion yuan. Since August of this year alone, Wanda Group has been subject to compulsory enforcement of 2.4 billion yuan and 400 million yuan, with the enforcing courts being the Beijing Financial Court and the Shanghai Financial Court, respectively.

Domestic media previously cited sources indicating that Wang Jianlin's current high consumption restriction is due to economic disputes involving Wanda's project companies, and that both parties had been negotiating solutions through various means; this time, it may have been triggered by asymmetric information in the enforcement process.

According to mainland legal regulations, after a person subject to enforcement is subjected to high consumption restrictions, they cannot choose to travel by airplane, soft sleeper train, or second-class cabin on ships, nor can they take all seats on G-series high-speed trains or first-class seats on other high-speed trains. Violators will face fines, detention, and in severe cases, criminal liability; this compulsory measure aims to promote the fulfillment of debts by restricting luxury consumption