Dreamworks has announced plans to build a £2 billion theme park in Shanghai. Oriental DreamWorks is slated to open in to 2016.
Li Ruigang, head of DreamWorks’ local partner China Media Capital, said the 20 billion Yuan project will comprise entertainment centres, animation exhibitions and commercial developments including hotels and shopping areas in Shanghai’s Xuhui district.
DreamWorks' Chinese partners will own 55 per cent of the venture, with the American studio holding the remaining stake.
The move comes after Disney announced plans to build a Disneyland resort in Shanghai - scheduled to open doors in 2015.
Li also said the company plans to release up to three films per year from the base, with the first to hit cinemas in 2017. Jeffrey Katzenberg, chief exec of DreamWorks said the new films will "have a connection to the culture, history and literature of China".