Disney to Continue Investing in China, Bob Iger Says
Disney CEO Bob Iger said the company would continue to invest in China during a meeting with Vice Premier Ding Xuexiang in Beijing on Friday.
Chinese state news agency Xinhua reported the meeting, noting that Iger said that Disney is “confident in China’s development, and will continue to expand its investment in China and better promote exchanges and cooperation between the United States and China.”
“We will steadfastly promote high-quality development, expand high-standard opening up and continuously optimize the business environment,” Xuexiang added, according to the outlet.
Xuexiang also stated that China “welcomes enterprises from all countries, including Disney, to continue investing in China and deepening their presence and share China’s opportunities to achieve greater development.”
A Disney spokesperson did not immediately return TheWrap’s request for comment.
Disney has opened two theme parks in China: Hong Kong Disneyland in 2005 and Shanghai Disney Resort in 2016. The company owns a 48% interest in Hong Kong Disneyland Resort and a 43% interest in Shanghai Disney Resort, per a regulatory filing.
The movie studio also releases its films theatrically in the country, though China caps the number of Hollywood films approved for release. The remarks from Iger and Xuexiang come after China threatened to “moderately reduce” the number of U.S. films that play in the country last year in response to President Donald Trump’s 125% tariffs on all Chinese goods, which were later lowered to 30%.
Trump has also previously floated the idea of a 100% tariff on movies made outside the U.S. as some productions, including Disney’s, have left California for overseas incentives, though that plan has not been enacted.
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