Shanghai Disneyland to open June 16

The Walt Disney Company has announced its Shanghai Disneyland theme park has finished construction and will open on June 16, South China Morning Post reported. The new park is expected to draw 10 million visitors a year. Ticket prices have yet to be announced, though there has been speculation that entry will cost will be between RMB300-400 (US$45-60), compared to HK$539 (almost US$70) at Hong Kong’s Disneyland. Mainland media had speculated the park would open during the Spring Festival in February. For the disastrous results that produced for the company’s Hong Kong park launch and more on the new park’s impact in China, see CER’s special report.