Disney officially opened its newest theme park in Hong Kong, its first step into the lucrative China market.

Some 2,500 dignitaries and guests were on hand, including Chinese Vice President Zeng Qinghong, Hong Kong leader Donald Tsang, Walt Disney Company CEO Michael Eisner and company president Robert Iger.

The opening ceremony of the US$3.5-billion park kicked off with a traditional Chinese lion dance in the forecourt of Sleeping Beauty Castle.

The Hong Kong government, which chipped in 1.8 billion Hong Kong dollars of the construction cost and owns a half-share of equity in the project, is hoping the park will spur local tourism and bring in more than 100 billion dollars over the next 40 years.

The attraction and its two resort hotels are surrounded by mountains on lush Lantau Island, just 30 minutes away by subway from bustling central Hong Kong. It looks much like the first Disneyland in California, with a Space Mountain thrill ride, a classic Cinderella Carousel and a pink Sleeping Beauty Castle -- which Disney predicts will be one of the most photographed buildings in Asia.

Hong Kong's government says the attraction will help turn this global financial capital into Asia's best family holiday spot.

Disney hopes the park -- the 11th in its global empire -- will be a magnet for increasingly wealthy Chinese tourists, who have a reputation for being big-spenders.

"This is a first big step," Walt Disney Co. President Robert Iger said about the park's role in expanding the company's reach into China, where generations have grown up with little or no familiarity with Mickey Mouse.

Iger said the park would create a media buzz and word-of-mouth excitement that would ignite interest in Disney films, TV shows and other products. He said that state-owned China Central Television was doing a special about the park.

"It's going to be seen by, I'm told, as many as a billion people, which is tremendous," Iger told The Associated Press.

Michael Eisner, Disney's chief executive officer, said China and Disneyland will be a perfect match because they both value families.

"You go to the park and you see mothers, daughters and kids and grandparents. The family unit in China is unbelievably strong. It's not just Hong Kong, it's the Chinese mainland," Eisner said.   

(China Daily September 12, 2005)