Wang Jianlin, China's richest man and chairman of property giant Dalian Wanda Group Corp., imported a fleet of Hollywood stars to China on Sunday to help him announce new plans to build the country's own version of the famed U.S. movie town.

Wanda's 30 billion yuan to 50 billion yuan ($4.9 billion to $8.2 billion) mega-entertainment center will include 20 studios in a complex with enough space to mimic small villages, and it has signed agreements with four top global agencies to attract stars who can share their creative...