A London Based Digital Publication Covering Diplomatic & Business Activities Globally

Wednesday, April 24, 2024

China Becomes World’s No 2 Movie Market

China Becomes World's No 2 Movie Market
China Becomes World’s No 2 Movie Market

Moviegoers in China spent 17 billion yuan ($2.7 billion) on tickets last year, turning the country into the second-largest film market in the world. Sales rose 30 percent from 2011, it said, citing the State Administration of Radio, Film and Television (SARFT), underscoring the rapid growth that has long attracted Hollywood despite China’s tight restrictions on foreign films.
After years of pressure, China in 2012 agreed to increase the number of films allowed in annually from the United States which is the world’s largest movie market from 20 to 34, whereas 893 domestic films were produced last year. Nonetheless foreign films generated 51 percent of the revenue, beating domestic film ticket sales for the first time in nine years, and Hollywood’s share in China rose from 18 to 25 percent.

Latest Posts

Latest Posts

Stay in touch

To be updated with all the latest news, offers and special announcements.

RELATED ARTICLES

Sheikh Hamdan Welcomes King of Bahrain at COP28

King Hamad bin Isa Al Khalifa of Bahrain arrives...

Azerbaijan Victory Day Celebrated

His Excellency Javidan Huseynov, the Consul General of the Republic...

Global stocks fall again despite virus rescue efforts

Financial markets in Europe and the US have continued...

Kuwait UAE Friendship Event

  The Consul General of Kuwait in Dubai & Northern...

Trade Diplomacy

Pakistan provides a Gateway for Asia's Development Alia Shamsi...

UN Secretary-General reaffirms commitment to more inclusive world

(New York) - UN Secretary-General António Guterres has reaffirmed...

Issue: 13

Bahrain to host auto show

(Manama) - Under the patronage of His Excellency Shaikh...

Macron elected France’s president

(Paris) - Pro-European centrist Emmanuel Macron won France’s landmark...