Sunday, November 20, 2005

Disneyland with Chinese Characteristics

According to a story in South China Morning Post, even with discount on ticket prices, daily attendance remains low at 12,972 on a recent weekend, and at 11,399 on a recent weekday. Needless to say this is far below the government's projection of average daily allowance 15,342.

Note that the above figures are recorded after the price reduction plan for locals is introduced, that means the actual figures before the plan may be even less and further below the government's projections.

Why I should care? Because I am forced to own a piece of the theme park as a taxpayer. And I am stuck with it because the theme park is not listed. Readers like you should care as well as long as you pay taxes and are co-owners of the theme park.

More, according to another story, there is so far no independent directors on the board overseeing the operations of the Micky land.

The Micky Land is then just like any other state-owned enterprise (SOE)in China(HK's Micky Land is 57% owned by the government). Those SOEs are supposedly owned by all the people, but these shareholders have no say whatsoever on their operations.

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