Universal plans Beijing theme park

Universal plans Beijing theme park

BEIJING - US FILM giant Universal Studios has proposed building a more than US$1.5 billion (S$2.3 billion) theme park in Beijing and is awaiting Chinese government approval, state media reported on Thursday.

The proposed resort, planned in partnership with the state-owned Beijing Capital Tourism corporation, would be built in Beijing's Tongzhou suburb, the official Shanghai Securities News reported, without identifying its source.

The proposed theme park was expected to be approved by authorities who are keen to start big projects that could boost the slowing economy, the report said.

Beijing city government refused to confirm the report when contacted by AFP. Universal Studios and Beijing Capital Tourism Corporation officials were not immediately available for comment.

The report follows Walt Disney's application last month to build a theme park in the country's financial hub Shanghai.

Both companies have been discussing setting up their first theme parks in mainland China for nearly a decade.

Universal Studios initially planned to build a theme park in Shanghai, but the venture was unlikely to proceed after Walt Disney's announcement, the report said. -- AFP

Source: http://www.straitstimes.com/Breaking%2BNews/Asia/Story/STIStory_337512.html