A new fairytale theme park will be built in Xixian New District in Northwest China's Shaanxi province, as a strategic cooperation frame agreement was signed between the Xixian administrative committee and Evergrande Group on Nov 7.

As planned, the new theme park will present visitors with China's time-honored histories and cultures. The park will especially showcase the cultural heritage resources of the Qin Dynasty (221-206 BC) and Han Dynasty (206 BC-220).

Invested by Evergrande Group, China's second largest property group by sales, the project will include a theme park, high-end hotels and commerce facilities.

"The project is based on historic culture and will highlight Chinese cultural elements," said Yang Zhanwen, director of Xixian's Qinhan New City, adding that the project is expected to promote the area's culture industry.

Targeting children aged 2-15 years old, the project will employ high-tech to improve visitors' interactive experiences. With 33 entertainment facilities, the scale of the new theme park is expected to exceed other brand theme parks, including the Disney Resort.

According to Evergrande Group, tourism is now their key investment field. As of now, Evergrande has invested in 15 theme park projects, which are expected to open to the public in the next two to five years. Tourist numbers at each theme park are expected to reach 15 million to 20 million, stimulating consumption of 20 billion yuan ($3 billion).