According to Reuters, local media is speculating about the possibility of Walt Disney announcing a deal to construct a theme park in Shanghai, China.

Disney and the Shanghai government have been waiting since the beginning of the year for Beijing's approval to go ahead with what would be the country's second Disneyland, after Hong Kong. It is believed that this will be granted shortly. Media reports have placed the cost of the park around US$3.6bn (£2.2bn, 2.4bn euro), with Disney owning a 43 percent stake in it and a local government-owned joint venture holding company the remaining 57 percent.

The plan calls for a large theme park and hotel complex to open in 2013 in the southern outskirts of Shanghai's Pudong district.