Mickey to set up shop in Shanghai

09:34, November 05, 2009      

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A decade-long courtship between the central government and the Walt Disney Co has resulted in plans to bring Mickey Mouse and his crew to the Chinese mainland as soon as 2014.

The news sent a shockwave across the country, with most news websites putting it atop their homepages, and TV networks hightlighting it in prime time.

Although skeptics are questioning whether local consumers will embrace it, and whether it can survive amid the already heated domestic amusement park competition, most of the leading Chinese economists and business analysts, including Wan Jun and Yin Zhongli with the Chinese Academy of Social Sciences, contacted by the Global Times said they were positive on the outlook of the park, as 19 out of 22 said it will be a profitable project.
The Shanghai Municipal government approved construction of the Disneyland theme park, which looks to cost 25 billion yuan ($3.6 billion) and cover 7 square kilometers, according to Shanghai officials who spoke with Xinhua Wednesday. Other details were limited.

"The Project Application Report for a Disney theme park in the Pudong district of Shanghai has received approval from the relevant authorities of the central government of China," Walt Disney said in a statement. The park will feature "characteristics tailored to the Shanghai region."

The Shanghai Park would be part of a major push into China by the California-based company, which reported in July a 19 percent drop in profits, year-on-year, from its parks and resorts during the third quarter of its current fiscal year.

Hong Kong Disneyland opened in 2005. Industry analysts have reported that the park''s attendance is second in the region to Ocean Park by about half a million people, according to the Themed Entertainment Association.

Source:Global Times

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