Society

Disney lands in Shanghai

(Xinhua)
Updated: 2011-04-08 21:54

Mickey Mouse and the Donald Duck are seen during a ceremony held to mark the start of construction work on the Shanghai Disneyland in Shanghai, East China, April 8, 2011. Construction work on the Shanghai Disney resort project began Friday. The Shanghai Disneyland theme park is scheduled for completion in five years. Supporting projects, including two hotels and retail and catering facilities, will also be built at an estimated cost of 4.5 billion yuan ($670 million). [Photo/Xinhua]

SHANGHAI - Twenty-five years after Mickey Mouse first appeared on television screens on the Chinese mainland and won the hearts of children with his friendly personality and uniquely squeaky voice, the US-based Walt Disney Company's iconic character finally kicked off his journey to greet fans in the world's most promising market.

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On Friday, construction on the Shanghai Disney Resort project started after a morning project launch ceremony in the city's Pudong New Area.

The planned castle for the Shanghai Disney Resort promises to be the biggest and tallest of all the world's Disney theme parks, according to Robert Iger, President and CEO of the Walt Disney Company.

The ceremony began with traditional Chinese drumming, followed by a performance by a Chinese children's choir accompanied by 20 Disney characters, including Mickey Mouse, Donald Duck, Snow White and the Seven Dwarves -- all dressed in traditional Chinese costumes.

Covering an area of 1.16 square kilometers, the theme park inside the 3.9-sq-km Shanghai Disney Resort, will be the world's sixth Disney amusement park and the first one on the Chinese mainland. It will also be the third of its kind in Asia, after the company's theme parks in Tokyo and Hong Kong.

Investment in the Shanghai theme park is estimated at 24.5 billion yuan ($3.7 billion). The construction is scheduled for completion in five years.

Shanghai Shendi Group, which was registered in August 2010, joined hands with The Walt Disney Company to undertake in the development, construction, investment, operation and management of the theme park and related facilities.

They have established three joint-venture companies:

-- The Shanghai International Theme Park Co, Ltd, which is in charge of the theme park, with the Chinese side holding a 57 percent stake, and the American side holding the remaining 43 percent.

-- The Shanghai Theme Park Associated Facility Co, Ltd, which is responsible for supporting facilities, with the Chinese side holding a 57 percent stake, and the American side holds other 43 percent.

-- The Shanghai International Theme Park and Resort Zone Management Co, Ltd is responsible for the project's operations management. The Chinese side, with 30 percent of the management company, is entitled to appoint board members, supervisors, a vice general manager and other senior executives to the company.

Both the Chinese and American sides have invested money into the project. No land-use or intellectual property rights have been used as stakes in the project.

Supporting facilities, including two hotels as well as retail and catering facilities, will be built at an estimated cost of 4.5 billion yuan.

The site of Shanghai Disneyland is 12 kilometers from Pudong International Airport. The planned 9.2 km metro line 11, will be built for the project.

The agreement for the Shanghai Disney project was signed in November 2010.