China Approves $3.25 Billion Universal Theme Park in Beijing

[beijingwalker]

China Approves $3.25 Billion Universal Theme Park in Beijing
1:15 AM PST 10/13/2014 by Clifford Coonan

The Chinese government on Monday formally approved a $3.25 billion Universal Studios movie theme park, Universal Beijing, for the suburbs of the capital in tandem with state investors.

The overall investment in the theme park will be more than 20 billion yuan ($3.26 billion) after initial expectations of $2 billion. It will be built on a 300-acre site initially, before adding additional phases to expand to a 1,000-acre park over time, the company said at a launch ceremony in a Beijing hotel. There had beenwidespread local media speculation about the theme park, which will be the biggest park Universal has ever done. Local media has reported that it will open in 2019.

Universal joins Walt Disney and DreamWorks Animation in building vast entertainment parks in the Chinese mainland to tap the country's expanding middle class and burgeoning love affair with the movies. The theme park will incorporate strong Chinese elements and pay "proper homage to culture in China," said Tom Williams, chairman and CEO of Universal Parks & Resorts.

The theme park will be accompanied by a Universal CityWalk entertainment complex, featuring multiple retail, dining and entertainment facilities, and it will include the first-ever Universal-themed resort hotel.

Read more Why the Asian Theme Park Business Is Exploding

The theme park will be jointly owned by Beijing Shouhuan Cultural Tourism Investment (BSH Investment), a consortium of four state-owned companies, and Universal Parks & Resorts, a unit of Comcast NBCUniversal.

"Of all the theme parks in the world, Universal Studio is outstanding, and we have all appreciated its high standards. It is theme park based on modern movie culture, and has a great reputation around the world," Duan Qiang, chairman of Beijing Tourism Group and BSH Investment, told the launch event in Beijing.

Duan said that the consortium had pursued the project since 2001.

"Beijing is an ancient cultural city with several great cultural heritage relics. What Beijing lacks is a large-scale entertainment project based on modern technology and modern art. After thirteen years of preparation we are excited that we finally reached a deal," said Duan.

Universal Beijing will be the company’s third facility in Asia after Singapore and Osaka. Universal also has theme park locations in Orlando and Hollywood.

"Thirteen years have witnessed a great improvement of people’s life in China. Annually there are 250 million people traveling to Beijing. This huge market gives us confidence in the project. We celebrate it," said Duan.

Universal Beijing will be the company’s third facility in Asia after Singapore and Osaka. Universal also has theme park locations in Orlando and Hollywood.

Read more China's Wanda Takes on Disney, DreamWorks Animation With Plan for 200 Theme Parks

Williams said Universal Beijing would create a higher level of economic growth, understanding and cultural exchange between the U.S. and China.

"Together, we will create a unique experience that spotlights hugely popular Western entertainment concepts as well as China’s rich cultural legacy. This will be an opportunity to build relationships with the Chinese people on a direct and personal level,” said Williams.

Asked about Beijing's notorious pollution problem and what impact that might have, Williams said that he saw opportunities.

"Of course, there will be a lot to learn ... but I really believe it will be very harmonious relationship and we will overcome and reform. I'm very confident we will succeed again." He said how Los Angeles had also suffered from smog, and a cleanup had worked there, and he was confident Beijing would also solve its pollution problem.

Shanghai Disneyland, the first Disney park on the Chinese mainland, is scheduled to open in the city's Pudong district at the end of next year, while in March, DreamWorks Animation and its Chinese partners unveiled designs for a $2.4 billion entertainment complex, also in Shanghai.

And domestic players are busy too. In August, Wanda Group, China’s biggest real estate company and the world’s largest cinema chain, said it was planning to build 200 children’s theme parks by 2020.

The Universal Beijing theme park and support facilities will occupy a site located northwest of the capital in Tongzhou district, and specific details will be announced later.

China Approves $3.25 Billion Universal Theme Park in Beijing

 

[beijingwalker]

China Approves $3.25 Billion Universal Theme Park in Beijing

Universal Studios to open Beijing theme park in 2019

After 13 years of negotiations and planning, Universal Parks & Resorts said Monday it would open a $3.3-billion, 300-acre theme park in Beijing. The company and its Chinese partners did not set an opening date, but state-run media said the complex would debut in 2019.

The long-rumored park will be among the company’s largest and include the same kind of movie-themed attractions featured at Universal parks in Los Angeles, Orlando, Japan and Singapore. It will include attractions specifically created for China and plans also call for a Universal CityWalk retail-dining-and-entertainment complex as well as a “first-ever” Universal-themed resort hotel.

An earlier version of this story referred to approvals for new projects in China being obtainable at the provincial level except for very large parks with capital investment greater than about $800 billion. The figure is $800 million.

The park is to be in an eastern suburb called Tongzhou. Additional phases could see the complex expand to 1,000 acres.

The park’s Chinese partner, Beijing Shouhuan Cultural Tourism Investment Co. Ltd., which was formed in 2013, completed a $300-million deal for the land in March, Chinese media reported.

The park will be jointly owned by Beijing Shouhuan, which is a consortium of four Chinese state-owned companies, and

Tom Williams, chairman and chief executive of Universal Parks & Resorts, said the Beijing park would showcase some of the best themed attractions to be found anywhere. “We will work together [with Shouhuan] to create experiences based on China’s best-loved stories and centuries-long rich cultural heritage,” he added.

Asked specifically what "Chinese elements" the park would include, Williams refused to offer specifics but said the company had already conducted "extensive research" on this matter and said the park would "pay proper respect and homage to Beijing" and Chinese culture overall.

Sidestepping a question about air pollution, Williams said he grew up in Southern California when there were some days that people were advised not to go outside because of smog. Now that's been cleaned up, he said, and he expressed confidence that Beijing too would solve its smog problems.

"There's already been dramatic improvement" since his first visit to Beijing, Williams said, not mentioning that the city just suffered through a three-day stretch of abysmal smog that sent the Air Quality Index off the charts.

In a videotaped greeting played at the press conference, Steven Spielberg, a creative consultant for Universal, said the "Chinese people deserve the very best our creative teams are capable of creating."

Universal does not currently have direct investments in the Universal-branded parks in Japan and Singapore. But it will invest in two joint ventures being established to build and operate the Beijing park.

Universal will have a 30% stake in the construction and ownership joint venture; Shouhuan will hold 70% of that. Universal will own 70% of the management and operations joint venture with Shouhuan having a 30% stake.

“Universal theme parks are the best theme parks in the world today,” said Beijing Shouhuan chairman Duan Qiang, adding that “Chinese people love the movies and exciting entertainment.”

China is expected to build 59 theme parks by 2020, according to a recent report by industry analyst AECOM. The $4.4-billion Shanghai Disney is slated to open in late 2015 with a Magic Kingdom-style theme park, several hotels and a Downtown Disney-style shopping center. DreamWorks Animation, through its China-based Oriental DreamWorks, is currently building an entertainment complex in Shanghai.

Six Flags recently announced plans to build and operate several parks in China over the next decade, with one in Tianjin — an hour train ride from Beijing — expected in 2018.

In 2012 and 2013, 12 new theme parks and one water park opened in China, with capacity to receive 27.8 million visitors a year. By 2020, AECOM predicts China will receive as many theme park visitors as the U.S. does currently.

In 2013, China’s central government lifted a moratorium on new theme park development approvals. Except for very large parks with capital investment greater than about $800 million, approvals can now be obtained at the provincial level, allowing many new projects to move forward.

Source: China Approves $3.25 Billion Universal Theme Park in Beijing

 

[beijingwalker]

When you have money ,you get everything, China has already got two Disney theme parks.

 

[JayMandan]

Politics aside, this is a wonderful project! I've been to universal studios in Hollywood a couple times and every visit is a new experience. Btw, That beidou dude/girl and the rest of the pdf over nationalistic posters, including a few Russians and Pakistanis, are going to hate this.

 

[mike2000]

The theme park will incorporate strong Chinese elements and pay "proper homage to culture in China," said Tom Williams, chairman and CEO of Universal Parks & Resorts.

Ahahahah.....so the U.S is teaching the chinese their own culture.

Thats why i said, its not just by having a large GDP alone. The U.S is simply too influential/powerful culturally, financially, politically, economically etc....you name it.

In fact the U.S sets standard that is then followed by the whole world(its so called rivals included) years later.

This is a good move though, since we live in a globalized world , led by the U.S.

 

[vietnamese_sausage]

When you have money ,you get everything, China has already got two Disney theme parks.

Chinese love americann culture and hate their own culture. It's not too late for china to become 52nd state. this way chinese people will win.

The theme park will incorporate strong Chinese elements and pay "proper homage to culture in China," said Tom Williams, chairman and CEO of Universal Parks & Resorts.

Ahahahah.....so the U.S is teaching the chinese their own culture.

Thats why i said, its not by having a large GDP alone. The U.S is simply too influential/powerful culturally, financially, politically, economically etc....you name it.

In fact the U.S sets standard that is then followed by the whole world(its so called rivals included) years later.

This is a good move though, since we live in a globalized world , led by the U.S.

Tom Williams know how to say the right things.

 

[mike2000]

Chinese love americann culture and hate their own culture. It's not too late for china to become 52nd state. this way chinese people will win.


Tom Williams know how to say the right things.

He indeed does bro.

The thing is, its not just china, the whole world is becoming westernize/Americanize. in few decades from now, i think china and much of asia(those that aren't yet.lol)will be totally conquered culturally by our values/way of life/culture .
Maybe Japan will be the last man standing, since they can be quite stubborn indeed. Just look at how they have suceeded in limiting our products from dominating thir market for decades(even after losing world war II to us) unlike all of asia where western/U.S products reign supreme. The japanese are indeed a tough nut to crack for us.

 

[Hamartia Antidote]

When you have money ,you get everything, China has already got two Disney theme parks.

hmm...this got me thinking...what is a good determiner of a "When you have money ,you get everything" country.
Is it having a house, three+ kids and 2 cars in the driveway or "X" amount in the bank?

No, the more I thought about..the more I think, as stupid as it sounds, this is what determines it:

Team USA | Page 61

Dental braces - Wikipedia, the free encyclopedia

Invisalign braces

traditional braces:

The end result

When society as a whole pushes something as useless (and as expensive) as this on the vast majority of the population (and if you don't do it people look at you like you are a poor beggar) you know you must have hit some kind of a nonsensical "you get everything" plateau.

@LeveragedBuyout your opinion?

 

[mike2000]

hmm...this got me thinking...what is a good determiner of a "When you have money ,you get everything" country.
Is it having a house, three+ kids and 2 cars in the driveway or "X" amount in the bank?

The more I thought about..the more I think, as stupid as it sounds, this is what determines it:

Team USA | Page 61

When society as a whole pushes something as useless (and as expensive as this) on the vast majority of the population (and if you don't do it people look at you like you are a poor beggar) you know you must have hit some kind of a nonsensical "you get everything" plateau.

@LeveragedBuyout your opinion?

Very well said peter. Couldnt agree more. Me myself im surprised/confused by what ge said.lool
But i understand though. Since i know the chinese(and many asians) like to show off with everything western.lool i see many of them here shopping in oxford circus, picadilly etc, they love over expensive luxury western products and will pay any price for it(even if we tripled them.lool). Sometimes i just and when I see that. items/cloths i wont buy even if i was a billionnaire. In fact nobody here even gives a damn about the type of cloths you wear nor the jewelries you put on.lool. maybe they buy it to show off when they get back to china. Lool

 

[vietnamese_sausage]

Very well said peter. Couldnt agree more. Me myself im surprised/confused by what ge said.lool
But i understand though. Since i know the chinese like to show off with everything western.lool i see many of them here shopping in oxford circus, picadilly etc, they love over expemsive luxury western products and will pay any price for it(even if we tripled them.lool). Sometimes i just and when I see that. items/cloths i wont even buy even if i was a billionnaire. In fact nobody here even gives a damn about the type of cloths you were nor the jewelries you put on.lool. maybe they buy it to show off when they get back to china. Lool

True. I see many older Asian men (cannot determine ethnicity ) buying brand name clothing at huge discount. Funny thing is the jacket is too big on them but since it's 65% off they buy it. Look very funny on them sort of like a child wearing an adult's jacket. but he thinks it looks cool with the big *** logo.

check out the youtube video of chinese lining up to buy iphone 6 in nyc. they love western brand.

hmm...this got me thinking...what is a good determiner of a "When you have money ,you get everything" country.
Is it having a house, three+ kids and 2 cars in the driveway or "X" amount in the bank?

The more I thought about..the more I think, as stupid as it sounds, this is what determines it:

Team USA | Page 61

View attachment 131025

When society as a whole pushes something as useless (and as expensive as this) on the vast majority of the population (and if you don't do it people look at you like you are a poor beggar) you know you must have hit some kind of a nonsensical "you get everything" plateau.

@LeveragedBuyout your opinion?

Hk is the worse but big mainland chinese cities are catching up. most hk girls won't consider marrying you if you do not own a decent flat. it's a pathetic chinese trait though i see that in westernized vietnamese also. US don't need to spend trillions on military when they can conquer the world with exporting American culture

 

[LeveragedBuyout]

hmm...this got me thinking...what is a good determiner of a "When you have money ,you get everything" country.
Is it having a house, three+ kids and 2 cars in the driveway or "X" amount in the bank?

No, the more I thought about..the more I think, as stupid as it sounds, this is what determines it:

Team USA | Page 61

View attachment 131025

When society as a whole pushes something as useless (and as expensive) as this on the vast majority of the population (and if you don't do it people look at you like you are a poor beggar) you know you must have hit some kind of a nonsensical "you get everything" plateau.

@LeveragedBuyout your opinion?

No doubt about it, China is moving into the consumerist, post-modern stage of development that the US and Europe entered a few decades ago. I wonder if the defenders of the SOEs as models of state capitalism still agree that this is a good use of taxpayer funds, or if Chinese SOEs suffer from the same populist corruption that afflicts American cities when they fund the development of new sports stadiums.

If entertainment pleases the Chinese citizenry, and improves their quality of life, I'm all for it. However, I can't help but feel troubled by these developments, including Chinese purchases of trophy properties in the US (like the Waldorf Astoria). Is anyone else reminded of Japan in the 1980s?

 

[Hamartia Antidote]

Very well said peter. Couldnt agree more. Me myself im surprised/confused by what ge said.lool
But i understand though. Since i know the chinese(and many asians) like to show off with everything western.lool i see many of them here shopping in oxford circus, picadilly etc, they love over expensive luxury western products and will pay any price for it(even if we tripled them.lool). Sometimes i just and when I see that. items/cloths i wont buy even if i was a billionnaire. In fact nobody here even gives a damn about the type of cloths you wear nor the jewelries you put on.lool. maybe they buy it to show off when they get back to china. Lool

Well the US already had the "always wear nice clothes in public" phase (probably the height was in the 1920's) and after jeans became popular it just never really happened again.

If entertainment pleases the Chinese citizenry, and improves their quality of life, I'm all for it. However, I can't help but feel troubled by these developments, including Chinese purchases of trophy properties in the US (like the Waldorf Astoria). Is anyone else reminded of Japan in the 1980s?

Oh Rockefeller Center was the first thing that popped into my head when I heard the news.

 

[TaiShang]

Self-delete.

 

[FairAndUnbiased]

No doubt about it, China is moving into the consumerist, post-modern stage of development that the US and Europe entered a few decades ago. I wonder if the defenders of the SOEs as models of state capitalism still agree that this is a good use of taxpayer funds, or if Chinese SOEs suffer from the same populist corruption that afflicts American cities when they fund the development of new sports stadiums.

If entertainment pleases the Chinese citizenry, and improves their quality of life, I'm all for it. However, I can't help but feel troubled by these developments, including Chinese purchases of trophy properties in the US (like the Waldorf Astoria). Is anyone else reminded of Japan in the 1980s?

This investment is a terrible move by the SOEs since the 3.25 billion price tag is justified if and only if Hollywood retains their attraction, since from what I'm reading, they are paying for 70% of the construction yet receive only 30% of the profits from operations. The attractiveness of Hollywood is not a guarantee, seeing as in the past year, Chinese movies have been topping the charts (see Lost in Thailand and So Young). This investment also does not increase the quality of life even one bit - Beijing already has other amusement parks of similar capacity.

It is likely to be a huge money loser with the SOEs being on the losing end. I am absolutely baffled by their investment decision. The only explanation is self hatred by people growing up in the 1980's where self hatred was a mainstream philosophy.

 

[AgentOrange]

The theme park will incorporate strong Chinese elements and pay "proper homage to culture in China," said Tom Williams, chairman and CEO of Universal Parks & Resorts.

Ahahahah.....so the U.S is teaching the chinese their own culture.

Thats why i said, its not just by having a large GDP alone. The U.S is simply too influential/powerful culturally, financially, politically, economically etc....you name it.

In fact the U.S sets standard that is then followed by the whole world(its so called rivals included) years later.

This is a good move though, since we live in a globalized world , led by the U.S.

Globalization brings jobs to China. Imagine all the locals it will employ. It's a win/win, IMO. Kind of sucks that Universal doesn't want to invest in the UK huh? But maybe people in the UK don't need jobs? Who knows.

As for the bit about the US teaching Chinese their own culture, what does that even mean? Once again, in your pathetic desire to gloat over some "victory" you yourself had no part in, you end up sounding confused. The theme park *has* to incorporate strong Chinese elements or else no one will go there. Just like McDonald's are reflective of local cuisine of the country in which they're based. That's what boosts sales. No Frenchmen would go to McDonald's in Paris, for instance, if the menu was identical to the McDonald's in Detroit. Is that an example of McDonald's teaching the French about cuisine or do you see how inane your original comments are?

And finally, no one is disputing that the US is the world's number one political, economic, and military power and will be so for some time to come. But the soft power you see is directly a result of American hard power. Would American movies, theme parks, etc be nearly as popular if America was as poor as Africa? I think not. The reason America is appealing is because of its living standards and military might - both directly attributable to America's economy.

You can downplay China's economic success and GDP growth but the economy underpins everything else and it just sounds like sour grapes on your part. With a large and powerful economy comes soft power and influence. You see examples of this when Europeans fall over themselves trying to cater to the whims of newly rich Chinese tourists. You also see examples of this when American pundits talk about the G-2 (hint, Britain isn't one of the G-2).

The British have had their time. Now it's about the US and China. The best thing little Brits like you can do is to die quietly in the corner. Hush, child. Just go to sleep and stay out of the way of the big boys. Most of the things that you comment on don't concern you or your irrelevant little island.