Chinese Parents to Soon Feel Terrible About Not Taking Their Kids to Disneyland

Exciting news for the children of China: Walt Disney Co. and its Chinese government friends have finally broken ground on Shanghai Disneyland, reports the Wall Street Journal. The "Disneyland" portion is just part of what will be a $4.4 billion resort with hotels, shops, restaurants, and everything a person could ever want, because after all, it's Disney! Everyone wants to go to Disneyland! Despite that, it took over a decade to get the Chinese government to agree to this.

As part of the deal, the majority of the resort is controlled by three state-owned businesses called the Shanghai Shendi Group. Disney holds 43%. The park's completion is expected to take five years.

Of course, Disney views China as a "great market," and China can't help but love Mickey Mouse. Thus, "Shanghai Disney Resort will be both authentically Disney and distinctly Chinese," [Disney Chief Executive Robert] Iger said. Shanghai Disneyland will be the sixth park world-wide.

Chinese parents: When announcing your impending trip, remember that the element of surprise is not always on your side.

Disney Breaks Ground on Shanghai Theme Park [WSJ]