Walt Disney Co. Signs on for China's First Mainland Theme Park

"Officials from Walt Disney Co. (NYSE:DIS) signed an agreement Friday with China's state-owned Shanghai Shendi Group Co. to construct the country's first mainland theme park, Bloomberg reports. The theme park will be Disney's fourth outside of the U.S. Government approval for the theme park was granted to Disney in 2009, but ""relevant government departments"" still need to give the go-ahead for the project, said officials from China's government on their website. The venture will reportedly have a price tag of 25 billion yuan, or $3.8 billion, and will include a Magic Kingdom theme."