Wang Jianlin, chairman of real estate conglomerate Dalian Wanda group, has raged war on Disney telling reporters that he wants Disney to be 'unable to make a profit in this sector in China for between 10 and 20 years'. The new park cost 34 billion yuan (£3.9 billion) to create.
The first phase of the theme park opened on Saturday and includes a hotel complex, movie centre and a shopping mall.
The 160 hectare (1.6 square km) park includes a six-star hotel, a five-star hotel and five other hotels providing some 3,500 rooms.
It's hoped that the theme park will attract some 100,000 tourists each day on average, reports China Daily.
The new park is 500 kilometres (310 miles) from the Shanghai Disney Resort well within range to compete for visitors with the park.
A ticket to the theme park is 218 yuan (£25.18) for single admission and 308 yuan (£35.57) for a family.