Disney has signed a deal to build a theme park in Shanghai, one of China’s wealthiest cities, bringing its long-held ambition to open a new Disneyland in mainland China closer to fruition.
Walt Disney Corporation said it was awaiting final approval from China’s central government for its joint venture with Shanghai Shendi Group.
Disney already has a theme park in Hong Kong. It operates only two other parks outside the US, one in Japan and the other, Disneyland Paris.
Shanghai‘s Disneyland is expected to cover about four square kilometers and cost about $3.75 billion.
By Linsey McNeill
