Oriental DreamWorks, one of the largest international investment projects in China, has officially announced the establishment of its headquarters in Shanghai Xuhui.

Oriental DreamWorks also announced that Kung Fu Panda 3 will be made in China as a co-production and is expected to be released globally in 2016. The first feature-length animated film solely created by Oriental DreamWorks is expected to be distributed worldwide in 2017.

After its inaugural feature production, Oriental DreamWorks plans to release one to three event films per year, building up a production capacity and operational standard that could compete with any international animation company.

For the first time, representatives of Oriental DreamWorks discussed future business plans. The company intends to principally engage in content production and its derivative industries, and the joint venture’s partners also intend to develop “Dream Center,” an integrated tourism destination that will be located in Xuhui Binjiang.

Over the next several years, it is anticipated that more than 2,000 animation film and television production professionals from China and around the world will join Oriental DreamWorks in order to apply leading-edge CG creative processes and production technology toward the creation of animated content featuring Chinese cultural elements.