Disney says China approves Shanghai theme park

Years ago I read that Disney was creating Asian themed princesses and characters in anticipation of one day building a park in China. It looks that day has arrived.

By Elaine Kurtenbach, AP Business Writer
SHANGHAI — China's planning agency has approved plans for a Disney theme park in Shanghai, the Walt Disney Co. said Wednesday, a major step toward setting a deal for the long awaited project.

The approval by the National Development and Reform Commission will allow Shanghai's biggest city, and Disney (DIS) to work on final details for the amusement park, to be located in the city's eastern Pudong district.

"China is one of the most dynamic, exciting and important countries in the world, and this approval marks a very significant milestone for The Walt Disney Company in mainland China," Robert A. Iger, president and CEO of The Walt Disney Company, said in a statement.

It said the initial phase of the project would include a "Magic Kingdom-style theme park with characteristics tailored to the Shanghai region." Amenities will be consistent with other Disney resorts in the world, it said.

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