China to open Disney theme park
Just days after ending its role as host to the World Expo, China's commercial capital is setting its sights on another big tourism draw - a long-awaited Disney theme park.
The Shanghai city government said in a statement that Walt Disney Corporation and the city government inaugurated a new company to manage the project, expected to cover nearly eight square miles.
The official Xinhua News Agency reported that the cost is estimated at 25 billion yuan (£2.2 billion).
The city said plans call for the theme park to be a "strong international tourism resort", with a pleasant, low-carbon environment.
Work has already begun on clearing land for the project, expected to be built not far from the city's main international airport in the eastern suburbs.