BEIJING—Two decades in the making, one of the highest-profile American entertainment investments in China is set to make its public debut Monday, amid souring relations between the two countries.

Universal Beijing Resort, a multibillion-dollar bet on Chinese consumers’ demand for Hollywood experiences, is Universal Parks & Resorts’ fifth theme park globally. Opening day for the project, which includes the Universal Studios Beijing theme park and two hotels, comes 20 years after the U.S. company first signed its joint-venture agreement with Beijing, according to Chinese state media.

This post first appeared on wsj.com

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