[Screen Digest]
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China has agreed to import 14 “enhanced” US films each year, in the 3D or IMAX formats, in addition to the current quota of 20 revenue-sharing foreign films, most of which are typically US releases. US companies will also be able to take a 25% share of box office, rather than the current 13-17% share.
The agreement comes one year after China missed the deadline to comply with a World Trade Organization (WTO) ruling to allow US films greater access to the Chinese market. When the March 2011 deadline passed last year, China told the US it needed more time to comply.
Following several years of double-digit growth, the Chinese box office grew by around 30% in 2011 to hit $2.06bn (RMB13bn). The top-grossing film,Transformers: Dark Of The Moon, raked in around $173m. Six of the top ten films were 3D releases, including one Chinese film, Tsui Hark’s Flying Swords Of Dragon Gate.
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See the original story here: http://www.screendaily.com/news/asia-pacific/china-agrees-to-widen-market-access-for-us-films/5038243.article
From another story in the Financial Times: http://www.ft.com/intl/cms/s/0/d24696e6-5abd-11e1-b056-00144feabdc0.html#axzz1msK0G5ZP
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China currently caps at 20 the number of foreign films it allows to be screened in its cinemas, but has agreed to exempt from the quota an additional 14 “premium format films”, shot in 3D or using the big-screen Imax format.
Another story here: http://www.hollywoodreporter.com/news/imax-welcomes-wto-agreement-china-292607
Imax Welcomes WTO Agreement With China
And here: http://www.deadline.com/2012/02/reaction-to-todays-u-s-china-film-agreement/