Rumor: Universal planning Beijing theme park

Universal has submitted a proposal to build a $1.5 billion theme park in Beijing, Chinda and is waiting for approval from the Chinese government according to information released last week by the Chinese state media. This announcement comes after Universal submitted an application in January to build a theme park in the country's financial hub, Shanghai. Those plans quickly collapsed after the GE/NBC purchase of Universal and Disney's announcement that they had landed a deal to build in the region.

The proposed resort would be built in Beijing's Tongzhou suburb and would by planned as a partnership between Universal (GE/NBC) and the state-owned Beijing Capital Tourism Corporation, reports the official Shanghai Securities News.

Though the Beijing city government has thus far refused to confirm the report when contacted by the American Free Press, the deal is expected to be approved by city officials who are anxious to begin development on large projects that may aid the slowing economy, the report said.

Neither Universal Studios nor the Beijing Capital Tourism Corporation were immediately available for comment.