The Walt Disney Company has announced that the Project Application Report (PAR) for a Disney theme park in the Pudong district of Shanghai has received approval from the relevant authorities of the central government of China.
" China is one of the most dynamic, exiciting and important countries in the world, and this approval marks a very significant milestone for The Walt Disney Company in mainland China," said Bob Iger, president and CEO of The Walt Disney Company.
The PAR approval will enable Disney and its Shanghai partners to move forward toward a final agreement to build and operate the park and begin preliminary development work. Upon completion of the final agreement, the project's initial phase would include a Magic Kingdom-style theme park with characteristics tailored to the Shanghai region and other amenities consistent with Disney's destination resorts worldwide.
DR LEE
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