CRI听力:Hong Kong Disneyland to expand with $1.4 billion investment

Walt Disney has announced a decision to expand its Hong Kong Disneyland theme park with a 1.4 billion U.S. dollars investment to attract more visitors.

Frozen and Marvel themed areas will be added to the Hong Kong resort.

The Hong Kong government, which owns a 53 percent stake in the theme park, will chip in 750 million dollars, while Disney will pay approximately 650 million dollars for the expansion running from 2018 to 2023.

The expansion comes after the park's first descent into the red in five years and large-scale layoffs earlier this year.

It lost nearly 20 million U.S dollars last year, while the number of visitors to the park dropped 9.3 percent.

The total number of attractions will be 130, which is 20 more than the current number.

Hong Kong Disneyland employs more than 5,300 full time and 2,500 part time staff, making it one of Hong Kong's largest employers.

For more on this, we're on the line with Cao Can, CRI Financial Analyst.