China/U.S. film relations loosen in 2017
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As Chinese officials and industry reps from the U.S. prepare to reopen negotiations around the China’s foreign film quota, signs from multiple stakeholders on the Chinese side indicate they’re prepping for stiffer competition from Hollywood.
China appears to be preparing for more movies from Hollywood into the People’s Republic, loosening the prior import quota that has limited the amount of overseas industrial competition.
Officials, industry leaders, film industry analysts and local media report the number of foreign films introduced to China could be introduced up to 36 more than the current 34 films, for a total of 70.
Despite this, how much China’s film regulators are prepared to loosen their grip on the number of foreign titles allowed in is uncertain.
Despite the clear surfeit, film regulators maintained that the films imported was considered “cultural exchange projects” and aren’t counted in the 34.
“2017 is starting to be called a strong year for Hollywood films,” the executive wrote.
Shanghai Media Group CEO Li Ruigang hinted that the film import quota could soon go up as high as “50, 60, or even 70 US films.” On Thursday, local film industry analyst Chen Changye told The Global Times newspaper that he predicts a dozen more films will be added to the quota and that no quota will be specifically assigned to 3D movies.
With 70 titles listed as having a chance of making it to the world’s second largest theatrical film market, it can be a massive progression for Chinese-U.S. film and cross-cultural relations.