Universal opening Beijing theme park by 2019

Entertainment firm Universal Parks & Resorts will invest more than $3 billion with a Chinese partner to open a theme park, complete with a Universal-themed hotel, in Beijing by 2019, the city government and state media have said.

The project has been approved by the National Development and Reform Commission.

Universal Parks & Resorts and partner Beijing Shouhuan Cultural Tourism Investment Co will spend more than 20 billion yuan (US$3.26 billion) to build the park, which will cover an area of 296 acres. The development will include a Universal-themed hotel as well as retail outlets and restaurants.

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The Beijing project will become Universal's fifth theme park after Los Angeles, Orlando, Osaka and Singapore. It is expected to also compete against a Disney park in Shanghai, which has been under construction since 2011 and is scheduled to open next year.

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