DreamWorks animation is planning to invest a $3.2 billion in a new entertainment center in Shanghai.
In this era where the world economy continues to struggle, China has become the dream destination for every business house across the world.
China's booming market has attracted DreamWorks studios to come up with a joint venture with Oriental DreamWorks which is scheduled to open for the tourists by 2016.
Reportedly the next installment of "Kung Fu Panda" movie will also be a joint production of DreamWorks Animation and Chinese their partners. The movie will scheduled to released in 2016.
The Center will reportedly be built in the Shanghai's Xuhui district and will include entertainment facilities, animation exhibitions and commercial developments including hotels and shopping.
China's box office, which is growing at an annual of 35 percent to $2 billion in 2011, making it the second largest international market behind Japan and is one of the main reasons the organization and filmmakers are interested in investing, according to the Motion Picture Association of America.
According to the Australian, entertainment giant Disney last year broke ground on a planned $3.7 billion investment to built a theme park in Shanghai, which is scheduled to open in 2015.
The Chinese partners in the new venture said the project is an entertainment zone and will be a way different experience than a theme park.
"It's different from any other large cultural project in China, including Disneyland,'' Li Ruigang, chairman of China Media Capital said to the official Xinhua news agency.
This article is copyrighted by Travelers Today, the travel news leader
