According to the Shanghai Securities News, Liu Zhengyi, Deputy Dirctor of the Pudong New Area in Shanghai, released on August 8 that the Shanghai government had Disney had reached agreement on principle issues of Shanghai Disneyland.
However, it still needs the approval by the central government.
In addition, an official from Pudong new area made clear for the first time that Disney is one of the six major tourist construction programs in Shanghai. Once the Disney program is approved, its investment scale will exceed 10 billion yuan.
Liu said as the approval right is controlled by the central government, the Disneyland program is subject to the central government's decision.
The Shanghai Disneyland will become the second one in China and the sixth around the globe.
By People's Daily Online