disneystudiosWalt Disney Studios and China entertainment biggie Shanghai Media Group have signed a multi-year partnership agreement to co-develop Disney-branded movies for U.S.-China co-productions, the latest move by Hollywood to get in business with China and its lucrative territory that adds 10 theaters a day to service its 1.3 billion-plus population . Under the deal announced today by Walt Disney Studios president Alan Bergman and SMG Pictures CEO Su Xiao, U.S.-based writers will team with locally based Chinese writers and filmmakers to develop scripts that combine Disney’s storytelling and Chinese elements. The goal is to create English-language co-productions aimed at international territories, and the program will be overseen by Disney Studios EVP Production Tony To. “The combination of our media coverage and understanding of the China market and Disney’s long-standing success in telling magical stories will surely spark a brand new chemistry that transcends age and borders,” said Su.