THE CHINESE FILM PRODUCTION UNDERMINE HOLLYWOOD

Cinema, China is not only the ribs of Hollywood but is expanding its influence elsewhere in the world. This was stated by a report edited by Entgroup, Chinese society research on the film industry, which noted as 29.6 billion yuan (4.76 billion dollars) were generated last year by producing 338 films made in China with an increase of 36% on the 2013 result in a difficult market and while North America recorded a decline of 6%.

According to the report, the quality of the films produced by Chinese companies is growing rapidly with 54.5% of collection total box office generated by domestic production. It is a success that comes after that the share of imports plus film has grown 20-34% and without taking into account the success of “Transformer 4: Age of extintion” the most watched film in China.

Entgroup has estimated that the boom of the film industry in China has generated more than 50,000 direct and indirect jobs in 2014 and revenues of 68.7 billion Yuan.