Universal Parks and Resorts has struck a deal to open a theme park in Shanghai, China, which could open by 2006.
The park is still subject to government approval and would be built at a cost of $870 million along the Huang Pu River.
Universal and two Chinese partners, who would own a controlling interest in the park, have signed an agreement in principle.
Universal operates parks in California, Florida, Spain and Japan. The new venture would offer a mix of Hollywood and Chinese experiences.
Walt Disney is opening a park in Hong Kong by 2006.
