Disney Theme Park Approved for Construction in Shanghai (DIS)

11/4/2009 - The Walt Disney Company (NYSE:DIS) disclosed that it has received approval from the Chinese government to build a $4 billion theme park in the Pudong district of Shanghai, according to a Wall Street Journal report. Talks about the theme park have been ongoing for almost a decade, and the newly-approved park will be bigger and provide more direct access to the local market than its Hong Kong location, which residents of mainland China need special permission to visit. A Wednesday statement from Beijing said that the two sides will are committed to a "long-term cooperation to build a world-class Disney Park in Pudong."

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: beijing, china, construction, government, hong kong, market, nyse, securities, shanghai