China says Hollywood putting pinch on domestic films
BEIJING (REUTERS) - China's films are taking a hit from a trade deal that allows for more US movie imports, the country's broadcast regulator said on Sunday, with their share of the box office take sliding even as the industry's total revenues outpace those of last year.
The movie pact, which exempted 14 films from China's annual quota of 20 foreign films per year, was hammered out in February during a trip to the United States by Vice-President Xi Jinping, the man expected to take the ruling Communist Party's top spot after a congress held this week in Beijing.
After signing the deal, the number of American films in China and their proportion of revenues have increased by a"large margin", Vice-Minister of the State Administration of Radio, Film and Television Tian Jin said.
"The past dominance of domestic films in the Chinese market has been shaken," Mr Tian told reporters.