China, which now allows 20 foreign films into its market each year, will
permit an added 14 enhanced-format films, said Howard Gantman, a spokesman
for the MPAA, which represents Hollywood’s biggest film studios. Under the
new revenue-sharing contract, studios will get 25 per cent of boxoffice
proceeds, up from the current 13 per cent.
Some Hollywood movies get around the quota if they are Chinese co-productions
or if some filming takes place in the country.
The deal “represents a significant opportunity,” Disney CEO Robert
A. Iger said.
The US had complained to the WTO that China was violating obligations made
when it joined the body in 2001.
Source: Bloomberg
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