Shanghai Disneyland Groundbreaking Ceremony Begins This Morning

After about a decade's negotiations, the ground-breaking ceremony of the Shanghai Disneyland took place in the southeast of Shanghai this morning. Experts say this theme park will promote local economic growth as well as the development of tourism industry around that region.

With the announcement of Yu Zhengsheng, the top party official of Shanghai's Municipal Government, the ground-breaking ceremony of Shanghai Disneyland begins this morning in Shanghai Pudong New Area. Robert Iger, CEO of Walt Disney Co. says Shanghai Disneyland will present a different Disneyland with Chinese characteristics.

"It will be authentically Disney and distinctly Chinese. Working together with our Shanghai partners, we are building an extraordinary destination, one that gathers the uniqueness and beauty of China with the legendary quality and brilliant experience of Disney.''

Ye Hang, director of Economic Department at Zhejiang University says this program will stimulate local economic growth a lot.

"Its large scale investment and long term construction cycle will promote more investment and employment in Shanghai. After it opens, it will form a large tourism market, boosting related industries such as restaurants and shopping."

However, Ye Hang says it doesn't mean this project is sure to make a high profit, since the Hong Kong Disneyland has been in deficit since it opened in 2005.

Shi Peihua, former deputy director of China Tourism Academy believes Shanghai has attracted Walt Disney for the following reasons.

"First, China is a huge market, and Yangtzi River Delta region is the most developed in the country and able to support such a project. At the same time, Shanghai is an international metropolis. It has a huge tourist flow and complete urban services."

Shi Peihua also points out that Shanghai Disneyland will help upgrade Chinese theme parks as no such parks in this country is as influential as Walt Disney elsewhere in the world.

Shanghai Disneyland is expected to be completed in 5 years. The direct cost of the first phase will be 24.5 billion yuan, around 3.75 billion US dollars.

Shanghai Disneyland will be the second Disneyland in China, and the 6th one in the world. When it is completed, China will become the first country to have two Disneylands outside the US.

For CRI, this is Wu Jia.