The agreement with China to construct Disney’s fourth park outside the U.S. “marks a very significant milestone,” Chief Executive Officer Robert A. Iger said in a statement. Disney and its Shanghai partners are now allowed to move toward a construction and operation agreement, the statement said.
An interesting tidbit towards the end of the article mentioned that this park will occupy more land than any other Disney theme parks in the world. I'm assuming it is only talking about the park itself and not the whole resort, since I'm guessing that WDW will still be the largest resort. But then again, maybe they bought a land larger than the size of Manhattan.