The Standard reports that Disney officials have for the first time admitted that they are negotiating to build a fifth Disney theme park in Shanghai, China.

“We have ongoing discussions – ongoing and ongoing and ongoing – with the Chinese government about a park in Shanghai,” Walt Disney chief executive Robert Iger said in the Hong Kong paper’s report.

Shanghai hopes to start construction of the new park in 2008, but no deal has yet been inked between the two sides, and a Hong Kong Disneyland spokeswoman reiterated that another Chinese park would not open before 2010.

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