Disney has won long-awaited approval from China's central government to build a theme park in Shanghai.

The company says, though, that it will still take a few months to finalize details of the deal with partners. That includes the breakdown of ownership of the park. The agreement for a Shanghai Disneyland is a landmark deal that carries enormous cultural and financial implications.

Analysts estimate the initial park, not including hotels and resort infrastructure, will cost three and a half billion US dollars. That will make it one of the largest-ever foreign investments in China.