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Oriental DreamWorks unveiled today
By Yang Jian |
August 7, 2012, Tuesday
|
Online Edition
Online Edition
SHANGHAI today launched Oriental DreamWorks, a joint venture with DreamWorks Animation of the USA, to produce films and run a recreational hub in the city.
The partners will establish a film studio in Shanghai to produce "Kung Fu Panda 3," a sequel to the blockbuster "Kung Fu Panda," in 2016 and produce about three animated films each year afterwards.
"We'd like to promote Chinese-made animated films and show Chinese culture to the world through our films," said Li Ruigang, chief executive officer of Oriental DreamWorks.
The joint-venture studio plans to produce its first film in 2017. Jeffrey Katzenberg, CEO of DWA, said previously that there are seven different proposals being considered for the film.
The partners also signed an agreement today to invest about 20 billion yuan (US$3.1 billion) to build the Dream Center in the West Bank Media Port in Shanghai's Xuhui District. The recreational hub will have theaters, restaurants and bars.
The West Bank Media Port, with the Dream Center as its main attraction, is expected to receive 20 million visitors a year, according to data from Xuhui District government.
"In the long term, we may set up Dream Center in other Chinese cities or even build them abroad," Li added.
DWA and three Shanghai-based state enterprises -- China Media Capital (CMC), Shanghai Media Group and Shanghai Alliance Investment Limited -- signed a deal in February to form a joint venture focusing on animation production, with the Chinese partners being controlling shareholders.
The partners will establish a film studio in Shanghai to produce "Kung Fu Panda 3," a sequel to the blockbuster "Kung Fu Panda," in 2016 and produce about three animated films each year afterwards.
"We'd like to promote Chinese-made animated films and show Chinese culture to the world through our films," said Li Ruigang, chief executive officer of Oriental DreamWorks.
The joint-venture studio plans to produce its first film in 2017. Jeffrey Katzenberg, CEO of DWA, said previously that there are seven different proposals being considered for the film.
The partners also signed an agreement today to invest about 20 billion yuan (US$3.1 billion) to build the Dream Center in the West Bank Media Port in Shanghai's Xuhui District. The recreational hub will have theaters, restaurants and bars.
The West Bank Media Port, with the Dream Center as its main attraction, is expected to receive 20 million visitors a year, according to data from Xuhui District government.
"In the long term, we may set up Dream Center in other Chinese cities or even build them abroad," Li added.
DWA and three Shanghai-based state enterprises -- China Media Capital (CMC), Shanghai Media Group and Shanghai Alliance Investment Limited -- signed a deal in February to form a joint venture focusing on animation production, with the Chinese partners being controlling shareholders.
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