DreamWorks to develop Shanghai entertainment zone
The US movie company DreamWorks Animation, which is responsible for films including Shrek and Kung Fu Panda, has announced plans to build an "entertainment destination" in Shanghai. As part of a collaboration with three Chinese partners, DreamWorks will develop a new 'Dream Center' in Shanghai's Xuhui district. According to Xinhua, the new entertainment zone will cost CNY20 billion (US$3.2bn) to develop, and will comprise theaters restaurants and bars. Li Ruigang, Chairman of China Media Capital (CMC) - one of DreamWorks' Chinese partners - said that he expects the new Dream= Center to attract approximately 20m visitors per year. "In the long term, we may bring more entertainment zones to other domestic cities or even build them abroad," Li added. DreamWorks will also establish a film studio in Shanghai which will make the movie Kung Fu Panda 3.
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