The proposed Shanghai Disney theme park has received approval from the National Development and Reform Commission (NDRC), a key step before a final deal is reached, the South China Morning Post reported, citing a source familiar with the situation. A Disney spokesman repeated that "there is no announcement" of approval, "and there’s no deal." The park had previously been estimated to cover an area five times as large as Hong Kong Disneyland, costing US$5.8 billion. Shanghai Disney was originally proposed 10 years ago, and the Shanghai municipal government has said the project would depend on central government approval.