Disney opens its first theme park in China
HONG KONG -- Disney officially opened its newest theme park in Hong Kong by Chinese Vice President Zeng Qinghong Monday, marking its first step into the lucrative China market.
Some 2,500 dignitaries and guests were on hand, including Hong Kong leader Donald Tsang, Walt Disney Company CEO Michael Eisner and company president Robert Iger.
The ceremony opening the three-billion US dollar park kicked off with a traditional Chinese lion dance in the forecourt of Sleeping Beauty Castle.
The Hong Kong government, which chipped in 1.8 billion Hong Kong dollars of the construction cost and owns a half-share of equity in the project, is hoping the park will spur local tourism and bring in more than 100 billion dollars over the next 40 years.