LOS ANGELES - Walt Disney has won approval from the central government of China to build a Disneyland-style theme park in Shanghai,

Analysts estimate Shanghai Disneyland — not including hotels and resort infrastructure — will cost US$3.5 billion, making it one of the largest-ever foreign investments in China.

The initial resort, with a mix of shopping areas, hotels and a Magic Kingdom-style theme park, will sprawl across 1,000 acres of the city’s Pudong district.

The theme park will occupy about 100 acres, making it a little bigger than Disneyland in Anaheim, California and on par with the parks in Paris and Tokyo.

It is expected to open in five or six years.

Dinsney has been talking to China about a Disneyland theme park for almost 20 years amd analysts say approval of the project signals that the Chinese leadership may be more open to Western investment.