Major foreign theme park projects advance in China, highlighting confidence in nation's consumer market

International theme park operators are making significant strides in China, with key projects hitting major milestones as they tap into the country's vast consumer market, a development that a Chinese expert said underscores foreign investors' continued optimism toward China.

Legoland Shanghai Resort is set to open this summer, with the project progressing smoothly, the Global Times learned from the company on Wednesday.

As of now, most of the rides for the resort are locally delivered and have transitioned smoothly into the installation phase, per the company.

The Shanghai municipal government pledged support for the park's opening and operation, the mayor Gong Zheng said on Wednesday, vowing to expedite major construction projects and optimize urban development.

The upcoming resort, situated in Shanghai's Jinshan district, marks China's first Legoland and the 11th one worldwide, serving as a theme park and hotel destination for families.

The development of Legoland in Shenzhen, South China's Guangdong Province, is progressing steadily. The company told the Global Times on Wednesday that civil engineering of the park's themed zones is nearing completion.

Looking into 2025, the Shenzhen resort is on track for completion. With strong support from the local government, significant development is underway for surrounding transportation networks and infrastructure, supported by a total investment of 30 billion yuan ($4.1 billion), per the company.

In another development, the expansion of the Shanghai Disney Resort is reaching another milestone in the development of its third-themed hotel. With the installation of the final primary steel beam, the major structure of this newest themed hotel was complete, laying important groundwork for the upcoming interior development, the Global Times learned from the company on Wednesday.

The resort's current expansion projects also include a Spider-Man-themed coaster, which will be the first major Marvel attraction at Shanghai Disneyland and began initial construction preparation in early 2024, according to the company.

Furthermore, both a Harry Potter and a Peppa Pig theme park are likely to open in Shanghai in the future, Shanghai-based media outlet the Paper reported on Tuesday, citing an official from the Shanghai Municipal Administration of Culture and Tourism.

These new attractions are set to boost Shanghai's status as a global cultural and tourism hub, enhancing its long-term appeal and international charm, according to the official.

Expanding domestic demand and boosting consumption are top priorities for China's economy this year, with local governments focusing heavily on cultural and tourism projects — sectors that have shown the fastest recovery in recent months, said Li Changan, a professor at the Academy of China Open Economy Studies at the University of International Business and Economics.

"Foreign firms' increased investments in major projects further underscore their confidence in China's consumer market and broader economic prospects, bolstered by the government's steadfast commitment to opening its door wider," Li told the Global Times.

China aims to position the cultural and tourism industry as a key economic pillar, as outlined in an action plan released by the State Council, the country's cabinet, on Monday, featuring 18 measures to promote growth in cultural and tourism consumption.

Despite challenges in the broader consumer market, the development of flagship projects can help catalyze growth by not only stimulating consumer spending but also boosting confidence in future consumption, Li added.

Beyond the theme park field, foreign investments across other industries are also demonstrating steady confidence in the Chinese market.

"Despite facing intense market competition in the Chinese market, we remain focused on long-term goals and are committed to maintaining our investments in the country," according to a statement sent by Volkswagen Group to the Global Times.