CHINA-SHANGHAI-U.S.-CULTURAL PROJECT

?SHANGHAI, Aug. 7, 2012 (Xinhua) -- Representatives attend a signing ceremony to launch a landmark Sino-U.S. cultural project titled "Oriental DreamWorks", a studio established by U.S. film giant DreamWorks Animation (DWA) in partnership with a trio of Shanghai-based companies, in Shanghai, east China, Aug. 7, 2012. DWA and its Chinese partners announced at the signing ceremony on Tuesday that they plan to co-produce upcoming film "Kung Fu Panda 3," as well as build an "entertainment destination" in Shanghai. DWA and three Shanghai-based state-owned groups -- China Media Capital (CMC), the Shanghai Media Group and Shanghai Alliance Investment Limited -- signed a deal in February to form a joint venture focusing on animation production, with the Chinese companies acting as controlling partners. (Xinhua/Ren Long)