Some 2,500 dignitaries and guests were on hand, including Hong Kong leader Donald Tsang, Walt Disney Company CEO Michael Eisner and company president Robert Iger.

The ceremony opening the three-billion US dollar park kicked off with a traditional Chinese lion dance in the forecourt of Sleeping Beauty Castle.

The Hong Kong government, which chipped in 1.8 billion Hong Kong dollars of the construction cost and owns a half-share of equity in the project, is hoping the park will spur local tourism and bring in more than 100 billion dollars over the next 40 years.