The City of Shanghai has signed on to a proposal from the Walt Disney Company to build a Disneyland theme park in Mainland China.
"Under the proposal, the entertainment giant will take a 43 percent stake in Shanghai Disneyland. The other 57 percent will be owned by a joint-venture holding company, owned by the Shanghai government.
The total investment will be about 24 billion RMB. The first phase will include a theme park, a hotel and a shopping center, covering an area of 1.5 square kilometers.
It will open in 2014, at the earliest. By the conclusion of the whole project, a sprawling complex will cover an area of six to eight square kilometers."
Read the full story: Disney hopes to build 1st park on Chinese mainland
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