Actor Robert De Niro is developing a complex featuring hotels, restaurants and a cultural centre in China.

The Raging Bull star has reportedly teamed up with local businessmen in Shanghai to launch a venture called Project 179.

The area, located in the city's financial district, will be designed to resemble 1920s Shanghai and will include a five-star hotel, retail spaces, restaurants, a cultural performance centre and a multiplex cinema.

The facility will open its doors in 2016.