Disney gets green light for China theme park 

(MENAFN) Walt Disney Co., the world's largest media company, said that it has won approval from China's government to build a theme park in Shanghai, giving it the access to consumers in the world's most populous nation, The Wall Street Journal reported.

The company's Chief Executive Officer said in a statement that Disney and its Shanghai partners are now allowed to move toward a construction and operation agreement.


The park will include a Magic Kingdom-style theme park with characteristics tailored to the Shanghai region, the CEO said in the statement.

The Shanghai park will be 57 percent owned by China with Disney holding the rest, and will be built in Pudong district's Chuansha area. That's about 27 kilometers from the financial district of Lujiazui.