"The Wonderland of Art and Literature" involves an investment of 2 billion yuan ($326 million). Macao's gaming operator Sociedade de Jogos de Macau's fully owned subsidiary Cotai Magnific View-Property Development will build an integrated hotel with 8,000 rooms. About 15,000 square meters of land nearby will be used for culture activities and shopping malls.

The company said it will cooperate with Beijing Gehua Cultural Development Group to arrange cultural performances.

The two companies worked together to build the China Millennium Monument in 2000.

A Beijing-Macao Culture Festival will be held.

The festival, which includes cultural performances, exhibitions and tourism promotions, will be held in Beijng and Macao on a rotating basis.

Beijing Daheshengshi Culture and Media Development and Macao Association of the Thirteen Hongs for Culture and Trade Promotion signed an agreement worth 15 million yuan to implement the program.

Both sides said they will make full use of their resources to promote Chinese culture through Macao.

Beijing's Shangba Culture Group is ready to invest in a theater and a center for international designers' works in Macao in cooperation with Macao-based Multinational Holdings Group.

An agreement for the project, which involves 15 million yuan, was signed at the First Beijing Macao Cooperation and Exchange Symposium last year.