"Kung Fu Panda 3," set for worldwide release in 2017, will be the debut feature-length animated film to be created by Oriental DreamWorks, a Shanghai-based entertainment company launched in February that will develop and produce Chinese animated and live-action content for distribution within China and around the globe.
The company is a joint venture between the
Glendale-based DreamWorks Animation and China'slargest media companies -- China Media Capital, Shanghai Media Group and Shanghai Alliance Investment Ltd.
"Kung Fu Panda 3" is the latest high-profile Hollywood film to be co-produced with China. Other co-productions include "The Expendables 2" and the upcoming movie "Iron Man 3" from Disney/Marvel Studios.
Oriental DreamWorks announced the co-production during a ceremony Monday to mark the opening of its headquarters in Shanghai.
The China joint venture also said it would invest $3.14 billion to open a shopping, dining and entertainment hub called "Dream Center" in Shanghai set to open by 2016.
