US movie quota unchanged
Print Edition
China will maintain its strict quota on imported Hollywood movies this year, according to an official announcement released yesterday.
The announcement put paid to rumors that the government was planning to allow greater access to US films in the world’s second-largest cinema market.
The Hollywood Reporter claimed last week that China’s film bureau was considering increasing the annual Hollywood movie quota to 44 from 34.
US studios have been taking steps to appeal to the fast-growing Chinese box office, which hit 21.8 billion yuan (US$3.6 billion) last year. Production companies like Viacom Inc’s Paramount Pictures and DreamWorks Animation SKG Inc have hired Chinese actors and set up co-productions with Chinese firms to make inroads into the mainland market.
But local film regulators control the inflow of foreign films in order to protect the box office share of domestic ventures.
An unnamed official from the State Administration of Press, Publication, Radio, Film and Television said the 2014 quota would be in line with an agreement signed in 2012, when China increased the quota from 20 films to its current level.
Under the agreement, the government also lifted Hollywood’s maximum share of revenue to 25 percent from 17.5 percent.
It is feared that more imported Hollywood movies would slash domestic films’ profits, Xinhua news agency said.
Hollywood has traditionally dominated China’s box office, but Chinese films overtook their US rivals last year taking more than 58 percent of the box office, it said.
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