MUMBAI: The first signs of cooperation between Hollywood
filmmakers and their Chinese counterparts are showing
August, DreamWorks Animation, known for making animated
hits like Shrek and Kung Fu Panda, officially launched
its joint-venture with three Chinese media companies.
The firm is scheduled to make the next installment in
the Kung Fu Panda series and open a theme park in Shanghai.
the same time, James Cameron, who successfully directed
Avatar and Titanic, also made his entry into China when
he co-founded Cameron Pace Group with China Film Group
Corp. and they agreed to cooperate on a 3D documentary
about the history of Beijing.
The JV structure allows Hollywood to gain entry to a
market it sees as fast-growing. It also allows Hollywood
studios and their Chinese counterparts to circumvent
government rules limiting the number of foreign films
that can be shown each year in the country.
February, the State Administration of Radio Film and
Television, the country's media watchdog, had averred
that it would allow the number of foreign-made films
allowed into the country this year to rise from 20 to
significantly, in the same month, Beijing signed an
agreement with Washington that means films made by the
JVs will not be counted against the quota.
the first half of 2012, four of the five films that
attracted 10 million ticket buyers were made in the
US, the remaining being those from China.