SHANGHAI (AP) -- China's National Development and Reform Commission will allow Shanghai, China's biggest city, and Disney to work on final details for an amusement park, to be located in the city's eastern Pudong district.
The news was met with general happiness by many local residents that own their land and hope that the buyout, which is to be assessed in December, will be generous.
Residents are also hopeful that the development will bring new opportunities and business.
Local resident Wu Quanrong, who has lived in the area for years is optimistic.
"For Shanghai, the Disneyland coming here has a good effect. The reputation of the city will arise, so? we really hope it will come," he said.
Others though, including business owners who rent and therefore stand to loose their businesses while the landlords profit, were not so welcoming.
Li Nianhua, who has worked hard to build a small convenience store, says she has a lot to lose from this investment.
"We've been running this shop here for over ten years. We have a small business and don't want it to be tore down. If we are relocated, it's going to be far away. We will listen to the government, though, and move to where they want us to be. We don't know where it is yet," she said.
Some residents were long ago moved off farmland in Chuansha, a part of Pudong district near the city's main international airport, to make way for the theme park.
Disney has gradually expanded its presence in mainland China after opening a theme park in Hong Kong in 2005 and now has offices in Shanghai, Beijing and Guangzhou.
There are currently 1.34 billion people in China. The park will be a major showcase for Shanghai, the mainland's main financial and commercial center.
Disney's theme park in Hong Kong has suffered disappointing attendance though, raising questions over the prospects for success of the Shanghai park.
he Walt Disney Company announced Wednesday it has cleared a major hurdle to building a planned theme park in the world's most populous country.
