The site will cover nearly 1,000 acres in a district just south of Beijing, and at its heart will be a teddy bear museum, the South China Morning Post reports . Costing 50 million yuan ($7.8m; £5m), the park is being billed as a "low carbon teddy bear paradise", as it will sit within a new town which has been designed to be environmentally friendly, the report says. It's a joint venture between the UK-based Great British Teddy Bear Company and a Chinese architectural firm, which hopes to attract 250,000 visitors annually once the park opens next year.