Page last updated at 07:05 GMT, Tuesday, 24 November 2009

Disney gets the go-ahead for China theme park

Mickey Mouse and friend
Disney has reported a decline in spending at its theme parks

Walt Disney has been given the green light to open a theme park in Shanghai by China's economic planning agency.

The National Development and Reform Commission said the long-awaited park would be built in the city's eastern Pudong district.

Earlier this month, the Chinese government gave its approval for the park after years of talks.

Disney has been gradually expanding its presence in China since opening a theme park in Hong Kong in 2005.

Final details for the Shanghai park have yet to be announced.

Also earlier this month, Disney surprised analysts by posting better-than-expected profits for the three months to 3 October.

However, revenue at the entertainment giant's theme parks dropped as visitors spent less during the downturn.

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