Disney looks to Shanghai for new park

CNBC is reporting that Disney has submitted plans to the Chinese government to build a theme park in Shanghai. The project would be a joint venture with the Chinese government.

"Discussions have been ongoing about the feasibility of a theme park project in
China," said Leslie Goodman, a spokeswoman for Walt Disney Parks and Resorts, in
the statement.
"As part of this lengthy process, we worked on a joint application report with the Shanghai government which will be submitted to the central government for review. No deal has been signed, no project has been approved."

The Wall Street Journal cites unnamed sources saying the new Shanghai Disneyland will be open by 2013.