I just met my WDI friend and here are the updates on the Shanghai and Hong Kong projects:
The negotiation between the Shanghai Government and TWDC on the Shanghai Disneyland project is completed and the Central Government of China has basically approved the project. Now both parties are working on the details and there will be an official announcement by the end of this summer. Meanwhile, HKDL will announce a major expansion plan: a new pirate themed “land” with multiple new attractions (not just to expand the existing Adventureland). TWDC will be responsible for the financing as the Hong Kong Government is not will to invest on the tidy theme park due to public pressure.