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China clamping down on unsustainable theme park boom
POSTED 12 Apr 2018 . BY Tom Anstey
China’s central planning body has warned developers about the country’s ongoing theme park boom, raising concerns over potentially unpayable debts and low grade or copycat developments, as new parks continue to spring up across the country.

As of the end of 2015, China had 59 parks planned or under construction, with the figure now thought to be in the hundreds. This explosion in theme park development in the country is due in part to the Chinese government lifting a ban on theme park approvals in 2013, enabling parks under CN¥5bn (US$800m, €717m, £633m) to be approved at a provincial level, encouraging further investors.

According to the National Development and Reform Commission (NDRC) – which has broad administrative and planning control over the Chinese economy – theme park developers should strengthen supervision to “prevent the formation of local debt risks, social risks and financial risks.”

“In the development of theme parks we’ve seen unclear concepts, blind construction, imitations and plagiarism, low-standard duplication and other issues,” said an NDRC statement, which also added that in certain areas “local debt risks” were starting to emerge.

For future plans, the NDRC says that entertainment firms should involve the government more planning such developments, with particular care placed on developments worth more than CN¥1.5bn (US$237m, €191.8m, £166.8m).

Attractions sales in China grew significantly last year, increasing 27 per cent to CN¥39.5bn (€5.1bn, £4.4bn), with Mintel data predicting the market to more than double in size to CN¥89.2bn (US$14.2bn, €11.5bn, £10bn) by 2022.

In June last year, China’s government removed restrictions on foreign investment in large-scale theme park projects as part of a pledge to open the country’s economy – the second largest in the world – to wider foreign investment.

Major developments in the country include those from the likes of Disney, Universal, Wanda and now Sunac. The NDRC says that new property developments around theme parks, including commercial and residential properties, will be closer scrutinised and must gain separate approval.

As its theme park sector continues to thrive, China predicts spending at its parks to reach nearly US$12bn (€10.7bn, £9.5bn) by 2020, with visitor numbers surpassing 330 million people. As Chinese disposable income rises, attractions are reaping the rewards, with tourism numbers increasing as more leisure opportunities become available to tourists.
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NEWS
China clamping down on unsustainable theme park boom
POSTED 12 Apr 2018 . BY Tom Anstey
China’s central planning body has warned developers about the country’s ongoing theme park boom, raising concerns over potentially unpayable debts and low grade or copycat developments, as new parks continue to spring up across the country.

As of the end of 2015, China had 59 parks planned or under construction, with the figure now thought to be in the hundreds. This explosion in theme park development in the country is due in part to the Chinese government lifting a ban on theme park approvals in 2013, enabling parks under CN¥5bn (US$800m, €717m, £633m) to be approved at a provincial level, encouraging further investors.

According to the National Development and Reform Commission (NDRC) – which has broad administrative and planning control over the Chinese economy – theme park developers should strengthen supervision to “prevent the formation of local debt risks, social risks and financial risks.”

“In the development of theme parks we’ve seen unclear concepts, blind construction, imitations and plagiarism, low-standard duplication and other issues,” said an NDRC statement, which also added that in certain areas “local debt risks” were starting to emerge.

For future plans, the NDRC says that entertainment firms should involve the government more planning such developments, with particular care placed on developments worth more than CN¥1.5bn (US$237m, €191.8m, £166.8m).

Attractions sales in China grew significantly last year, increasing 27 per cent to CN¥39.5bn (€5.1bn, £4.4bn), with Mintel data predicting the market to more than double in size to CN¥89.2bn (US$14.2bn, €11.5bn, £10bn) by 2022.

In June last year, China’s government removed restrictions on foreign investment in large-scale theme park projects as part of a pledge to open the country’s economy – the second largest in the world – to wider foreign investment.

Major developments in the country include those from the likes of Disney, Universal, Wanda and now Sunac. The NDRC says that new property developments around theme parks, including commercial and residential properties, will be closer scrutinised and must gain separate approval.

As its theme park sector continues to thrive, China predicts spending at its parks to reach nearly US$12bn (€10.7bn, £9.5bn) by 2020, with visitor numbers surpassing 330 million people. As Chinese disposable income rises, attractions are reaping the rewards, with tourism numbers increasing as more leisure opportunities become available to tourists.
RELATED STORIES
China theme park boom driving Asian tourism, says Global Trends Report


China’s theme park boom has been identified as a major trend for Asia in this year’s edition of the Global Trends Report, with new developments and an emerging middle class driving tourism in the region.
Ferrari inks deal for China theme park


Ferrari has signed a non-binding agreement with a Chinese property developer to build the luxury car-maker’s first theme park in China.
Visions of China theme park developers sign deal with Rotherham council


The Visions of China theme park, planned for a former opencast coal mine in the Rother Valley Country Park, is one step closer to development with a lease agreement signed between the local council and developers.
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A new museum dedicated to 200 years of boating history at the Lake District National Park and Unesco World Heritage Site in the north of England has opened in Windermere, Cumbria.
Ankapark rebrands as Wonderland Eurasia and opens in Turkish capital
The huge new theme park in Ankara, Turkey, that had been known as Ankapark has now officially opened under the new moniker Wonderland Eurasia.
Be My Robo Date: Elderly and disabled in Singapore will soon 'visit' attractions via remote robot
A new directive in Singapore, set to launch in June, will allow elderly and disabled people who cannot physically get to museums to see exhibitions with the help of a mobile ‘telepresence’ robot.
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LATEST JOBS
Commercial Manager - Retail Operations
The Silverstone Experience
Salary: Up to £30,000 pa
Job location: Silverstone, Towcester, UK
Visitor Services Manager
Yorkshire Wildlife Park
Salary: Competitive
Job location: Branton, Doncaster, UK
Catering Manager
Welsh Water
Salary: £32,392 - £37,027
Job location: Conwy, UK
Human Resource Manager
Eureka
Salary: Circa £32,000 per annum
Job location: Halifax, UK
Assistant Director Visitor and Site Operations
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Salary: Circa £42,000 per annum
Job location: Halifax, UK
Attraction Manager - Conwy
Welsh Water
Salary: £39,966 - £46,960
Job location: Conwy, UK
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

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