(Yicai Global) June 26 -- Dalian Wanda Group plans to invest an additional CNY110 billion (USD16 billion) in Sichuan. That combines with Wanda's previous outlays in Sichuan worth CNY160 billion to make the southwestern province the Chinese conglomerate's top investment region.

Chairman Wang Jianlin, a native of the province, made the commitment today at the opening ceremony of the 2019 Sichuan Entrepreneurs Development Conference and the Signing Ceremony of Cooperation Projects, according to local media Sichuan Online.

Beijing-based Wanda renewed its cooperation agreement with the Sichuan provincial government yesterday and will invest CNY11 billion mainly on projects in culture, tourism, healthcare and other high-end service sectors. These include three new cultural tourism projects, China's first top international hospital and 20 Wanda Plazas, all of which are expected to be completed within three years, said Wang, who is also honorary president of the General Association of Sichuan Entrepreneurs.

Wanda has viewed Sichuan as a key investment area in recent years. Since the two parties signed a comprehensive partnership in April 2015, the company has spent on large-scale cultural tourism projects, built and opened 22 Wanda Plazas, launched three five-star hotels in the province and helped bring the Abbott World Marathon Majors candidate race and the Urban Cycling World Championships to Chengdu, the provincial capital, Wang said.

Wang, who started his career in real estate development, once ranked first in Forbes' China Rich List of the Year. He ranked fourth last year with a net worth of USD22.7 billion.