Theme parks set to be in for the long ride

In December, the resort signed off the final steel roof deck of its eighth and newest themed land, Zootopia. It is also the first-ever land of its kind in the world.

Some domestic themed resorts have fought for locally relevant intellectual property rights to win over younger Generation Z consumers to get ahead of international rivals.

OCT Group, the country's leading theme park operator that owns the Happy Valley brand, has signed contracts to acquire the IPs of Super Wings, a popular animation series from Guangdong Alpha Animation and Culture, to launch Super Wings characters in its Happy Valley in Chongqing this June. It has also signed contracts with local cartoon publisher Kuaikan Cartoon to develop and incubate IPs.

Lin Huanjie, director of the institute, said Happy Valley's introduction of niche domestic IPs has not been sufficient in acquiring new visitors. But the collaboration could benefit the extension of its business portfolios by developing derivative retail businesses such as blind-box products.