China gives green light to Disney park
Published 06/11/2010 | 05:00
JUST days after Shanghai wrapped up its role as host to the World Expo, the country's commercial capital is setting its sights on another big tourism draw -- a long-awaited Disney theme park.
Walt Disney Co and the city government agreed yesterday on plans for a joint venture to manage the project, the city government said yesterday in a statement.
The cost is reportedly estimated at 25bn yuan (€2.56bn).
Plans call for the theme park to be a "strong international tourism resort," with a pleasant, low-carbon environment.
Disney has been expanding its presence in mainland China after opening a theme park in Hong Kong in 2005.