China gives green light to Disney park
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.