Bailian invests in Shanghai Disney

Shanghai-based leading department stores operator Bailian Group has become one of the Chinese shareholders in the Shanghai Disney Resort after buying a 10 percent stake in Shanghai Shendi Group, domestic news portal yicai.com reported Thursday.

Shanghai Shendi Group holds a 57 percent stake in the Shanghai Disney Resort, while its US partner Walt Disney Co owns the remaining 43 percent.

The resort, which is set to open at the end of 2015, covers an area of around 3.9 square kilometers.

Total investment in the resort reached $5.5 billion and its capacity will be enlarged by 30 percent after the expansion in investment - the theme park will receive around 10 million visitors each year, according to media reports.