Like all other industries in China, the theme park and amusement sector has become a major target for global companies despite its young age.

Armed with games, rides and video products, 165 international suppliers attending an amusement facility exhibition yesterday in Shanghai just couldn't wait to find local partners for "fun business."

Organized by the International Association of Amusement Parks & Attractions, the three-day expo opened yesterday in Pudong, targeting local companies in the amusements industry.

"China is quite different from what I saw years ago; it's growing very fast," said Eric Dillens, chairman of nWave Studios, a Belgium-based producer of three-dimensional films that targets theme parks, museums, Imax facilities and amusement parks.

"We've talked to several local companies who've shown an interest in business cooperation."

The Belgium studio was far from alone. IAAPA, representing more than 2,700 such suppliers around the world, foresees China as the new growth engine for Asia's amusements industry.

As Asia Pacific's second-largest theme park market, China generates US$1.3 billion in annual revenues from the sector, according to a report by PriceWaterhouseCoopers.

The theme park industry is expected to grow an average 7.1 percent every year and generate US$1.8 billion in revenue by 2010, fueled by new parks including a possible Disneyland in Shanghai.

The country already has hundreds of amusement centers.

Rosy as the picture is, concern exists over whether the industry is expanding too quickly.

"The problem is, many cities are in a rush to develop the industry, dumping huge amounts of money to build theme parks, which can result in big losses if they don't generate visitor traffic," said Liu Jingwang, vice secretary general of the China Association of Amusement Parks and Attractions. 

Editor: Yan