China is planning to build its own version of Michael Jackson's Neverland Ranch on an island near Shanghai, it emerged today.

The first phase of the project on Chongming Island will be completed within a year and will cover 7.2 million square feet, the Shanghai Morning Post said.

Named after the home of Peter Pan, Neverland Ranch was Jackson's whimsical retreat with carnival rides, a coterie of animals, two trains and a Disney-like station.

The total cost of China's version is expected to be around £9 million. The tribute to Jackson will include a man-made lake, said Qiu Xuefan, vice director of the Wenzhou Chamber of Commerce.

Jackson memorabilia - bought by auction and other "private channels" - will be on display.

Chongming Island is in the Yangtze river to the north of Shanghai.