Universal Studios to build Shanghai Theme Park

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Last updated at: (Beijing Time) Tuesday, December 10, 2002

Universal Studios to build Shanghai Theme Park

Four days later after embracing World Expo 2010 Shanghai again takes a new order of building the first world-class theme park on the Chinese mainland.

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Four days later after embracing World Expo 2010 Shanghai again takes a new order of building the first world-class theme park on the Chinese mainland.

The U.S.-based Universal Studio, a subsidiary of Vivendi Universal (FR), Shanghai Waigaoqiao Group and Jinjiang Group signed a draft contract in Shanghai on December 7 that the three sides will make joint efforts to design, construct and operate Shanghai universal studio theme park. As learned, the Universal Studio is one of the largest and most benefit-bearing theme parks around the world.

To keep pace with construction of World Expo 2010

Sources from Hu Wei, head of Shanghai Pudong new district, say that Shanghai universal studio theme park will be located in Sanlin area in Pudong, adjacent to the site of World Expo 2010, and also is set to keep pace with the expo site's construction. After completion, the theme park will, with four major areas under development along the sides of Huangpu River----vogue residential area, shopping and sightseeing area, unique residential area and civilized tourist area, complement each other. The project will have its first phase covering an area of 0.85 sqkm started in 2003, while the whole park will formally open to public in 2006.

President in charge of global affairs with Universal Studio said, " Shanghai, China's economic and financial hub, lately won World Expo 2010 bid, which provides a good timing, geographical convenience for my group to make investments in the city. The co-operation this time is a mutual choice made by Shanghai and us. We hope that it will achieve a win-win result."

Since opening in 1990, Universal Studio Orlando have hosted more than 100mn tourists admissions, coupled with a record as the most successful theme park in history scored by Universal Studio Osaka. On the basis of numbers of Hollywood movie treasures, Universal Studio Shanghai will by the adoption of hi-tech methods present a lifelike scene of movie making, intensify the participation and amusement for tourists, and update the entertainment contents in step with movies produced by Universal Studio.

Mr. Hu Wei also noted that Universal Studio Shanghai will bring new vitality into Shanghai's tourism industry. Initial assessment tells that this theme park will receive 8mn admissions in its first year of business, providing 10,000 direct employment opportunities and 100,000 indirect ones, and propel the development of communications, convention and exhibition, finance and other sectors in Shanghai, thereby reaping economic returns of over US$ 1bn.

To Rival Disney World Hong Kong

Experts held that encouraged by Universal Studio Osaka, a successful example given by Universal Studio, outside circles have full confidence in building Universal Studio Shanghai. On the other hand, as its old rival----Walt Disney Co. has set to construct a Disney world in Hong Kong, Universal Studio are eager to enter the Chinese mainland to share the huge market of a 1.3-billion population with Walt Disney.

Disney World Hong Kong in process, the third overseas park of Walt Disney Co., will consume a building cost of US$ 2.8bn and open to public in 2005. Reliable sources tell that the park will host more than 5mn admissions in the first year, then 10mn annually after a period of 15 years, and earn a net profit of 148bn yuan for Hong Kong in the coming 40 years, 8 times of investments made. However, Universal Studio Shanghai, after completion, is bound to become the most capable competitor of Disney World Hong Kong.

"The construction of Universal Studio Shanghai is similar to that of Osaka," added president of Universal Studio. This remark made it possible to have a rough picture of Universal Studio Shanghai. Universal Studio Osaka, the world fifth and the Asian first universal studio theme park, has scored unprecedented success since its opening in 2001, in which year the tourists admission, standing at 2mn by the internal estimates, finally amounted to 11mn. This figure broke the first-year records of theme parks worldwide, while the income also totaled US$ 1.6bn, far surpassing US$ 1bn of its counterpart in Orlando.

By PD Online Staff Zhu Lizhen

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