Walt Disney Chairman and CEO, Bob Iger, told CNBC he was "extremely bullish" about China's long-term prospects, as he unveiled details of its first theme park in the country.
Shanghai Disneyland, due to open next spring, will include six "themed lands"—Fantasyland, Treasure Cove, Adventure Isle, Tomorrowland, Mickey Avenue and Gardens of Imagination. The project is expected to cost Disney, along with partners the Shanghai Shendi Group, $5.5 billion.
The grand unveiling of the park in Shanghai comes at a difficult time for businesses in China, following weeks of market volatility – but Iger said he was not concerned.
"We build things to last many years. Disneyland was built 60 years ago and has been through the ups and downs of the U.S. economy for six decades," he told CNBC Wednesday.
"So we're not concerned with the Chinese economy and we're extremely bullish about the long-term prospects of it."
A recent meltdown in Chinese stocks has seen the benchmark Shanghai Composite Index fall over 25 percent over the last 30 days. However, on the year it is up around 17 percent, reflecting the rock-and-roll ride in Chinese markets of late.
Despite this volatility, China is becoming an increasingly important market for global companies. Although the rate of growth has slowed, its economy still expanded by 7 percent year-on-year in the second quarter. Beijing is also pushing for more consumer-led growth and the middle class is booming – all appealing factors to big business.
As such, Iger said the Chinese theme park was one of the company's "most important projects."
"China represents a great opportunity for the Walt Disney Company," he added. "Growing in China is a huge priority for us and our primary approach in terms of growth is this park, so obviously it's extremely important and very exciting."