Analysts meanwhile are calling on both Wanda and Walt Disney to keep their cool, saying that there's enough space for everyone in China's rapidly growing entertainment market.

"I noticed the remarks by Mr. Wang Jianlin. It's probably to try to make some sensational effect for the advertisement of his plan. But overall the services sector, particularly entertainment, culture, is a rapidly growing sector for China. Because more and more people and households, their demand for this type of service is much larger than before. So the consumer population for this market is increasing very rapidly. The market is large enough for Walt Disney and Wanda. So the competition is there, but I think overall it's a good business for them," said Zhao Yang, chief China economist nomura.