The Walt Disney Company has signed a letter of intent with the thriving commercial city of Shanghai to build its third Asian theme park there, the Hong Kong Economic Times reported yesterday.
Citing unidentified sources, the newspaper said details were under discussion and construction of the Shanghai park -- to be built in the city's newly developing Pudong district -- would take less time than Disney's Hong Kong project.
There was no confirmation from Disney and a spokesman for the Shanghai city government declined to comment.
"Right now our priority is to successfully open Hong Kong Disneyland in 2005/06. We have made no definitive decisions or commitments at this time. We have always stated that two parks in China is a possibility in the future," said a Disney spokesman in Burbank, California.
Sources familiar with the project said Disney had yet to decide with local authorities whether it would be in the capital Beijing or Shanghai, China's richest city.
A team from Disney's US headquarters visited China last month, the sources said.
If the Shanghai park goes ahead, it would be Disney's third in Asia, after the planned Hong Kong theme park and Tokyo Disneyland, which opened in 1983.
Former Shanghai mayor Xu Kuangdi said before the Hong Kong deal was signed in 1999 his city would welcome a Disneyland, but current mayor Chen Liangyu has said that incomes in the city would need to rise further before it could support one.
The Hong Kong Economic Times report is certain to raise eyebrows in Hong Kong, which hopes its planned US$1.8 billion Disney park will be a magnet for visitors from mainland China, rejuvenate its flagging tourism industry, provide jobs and motor related sectors such as tourism and retail.
Many in Hong Kong fear another park on mainland China would mean too much competition, and all suggestions in the past that Disney may have a second Chinese park are anathema and have often triggered angry responses from businesses here.
Since clinching the deal in 1999, the Hong Kong government has had to defend itself against criticism that the deal it struck with Disney was too one-sided.
While taxpayers are forking out a HK$22.45 billion (US$2.9 billion) for the park and accompanying infrastructure, Disney will be investing only a fraction of that, or HK$2.45 billion.
And even before the goods have been delivered, the project has been dogged by problems.
Environmentalists have blamed it for severe water pollution problems that have surfaced since reclamation work began around the site of the park, which is to be completed by early 2006.
Fish farmers are clamoring for compensation and Hong Kong will have to cough up another HK$400 million to remove dioxin tainted mud from the site, which used to be home to a shipyard.
The Hong Kong government seemed to be in the dark about what could be going on on the mainland yesterday.
"We have not received any information from Shanghai that it will build such a park, but Disney has never ruled out building a second park in China," a government spokeswoman said.
The Hong Kong Economic Times said the central government in Beijing would ensure that Shanghai's Disney park will not open sooner than Hong Kong's.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College