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Beijing theme park proposal sent for State Council nod
By Ding Qingfen (chinadaily.com.cn)
Updated: 2009-02-12 15:18 The proposal for a new international theme park in Beijing has been sent to the State Council, or China's Cabinet, Beijing Tourism Group Chairman Duan Qiang told China Daily on Thursday. "We are waiting for government approval but it is not yet clear when that will come through," Duan said. The park, to be jointly set up by American Universal City Studios and BTG, will be located in Tongzhou, Beijing's eastern region, Duan said. The two sides are likely to inject more than 10 billion yuan ($1.46 billion) into the theme park. The Chinese side will hold majority stake. The discussions for setting up the park began in early 2001. Experts said the proposal is likely to be approved by the government given the slowdown in the economy. (For more biz stories, please visit Industries)
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