China’s investment in silver screen
Chinese firms are now speeding up their internationalisation and strengthening ties with their peers across the Pacific through direct investment in Hollywood.
China is now offering huge potential as a funding source for Hollywood, always a dream factory for movie fans across the world and powered by US moguls.
“Chinese investors are very sophisticated and have been contemplating the kinds of investments they want to make,” Bloomberg cited Charles Paul, a longtime Hollywood executive and an adviser to investment bank Centerview Partners, as saying.
In March 2011, the rule that limits the number of foreign films that can be shown in the domestic market every year to just 20 will be lifted.