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China to double the size of its entertainment industry

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On the eve of the National People’s Congress, the government has announced a plan to more than double the size of its entertainment and cultural industries over the next five years.

Although Hollywood and China have increasingly been working together as the Chinese film industry has opened up, this move would set the two head to head in the studio and box office, said a report from the Wall Street Journal.

The plan would be to grow the country’s current film and television production value to almost RMB 3 trillion (approximately US$460 billion), by 2016 in the hope of extending China’s cultural influence worldwide.

“We will deepen the cultural industries because they are a new growth point of our national economy,” said Sun Zhijun, director general of the Office of Central Leading Group for Reform of Cultural Systems, in a meeting with the press Monday.

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via CNNGo

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