China has declared Thursday that will immediately limit imports from Hollywood films for retaliation for the escalation of the rates of the President of the United States Donald Trump on imported Chinese products.
After three decades in which China has imported 10 Hollywood films every year, the National Film Administration said that Trump’s rates on Chinese imports will further undermine the internal demand for American cinema in China after years of decline.
“We will follow the rules of the market, we will respect public choices and moderately reduce imported American films,” said NFA on its site.
Chris Fenton, author of “Feeding the Dragon: within the dilemma from trillion dollars who faces Hollywood, the NBA and American affairs”, said that the measure was a “very important way to take revenge almost without disadvantages for China”.
Hollywood films represent only 5% of the total box office recipes on the Chinese market. And, worse for Hollywood, China taxes this small amount of 50% before any revenue performance in the United States, “said Fenton in Reuters.
Hollywood Studios receive only 25% of the Chinese box office, while other markets give Studios double this, he said.
“This Hollywood high -level punishment is a demonstration of Beijing’s strength that just has to earn and will surely be noticed by Washington,” added Fenton.
In 1994, China began to import 10 American films per year through the model of distribution of the internationally recognized revenue sharing. The imports, including “Titanic” and “Avatar”, have become great successes at the box office in the Chinese market, making actors such as Leonardo DiCaprio and directors like James Cameron have become known names among fans of Chinese films of various generations.
China is the second largest film market in the world. However, in recent years, since the culture of local entertainment has flourished, the enthusiasm of the Chinese public through Hollywood films has decreased.
Since 2020, national films have constantly represented about 80% of the annual revenues per box office compared to about 60% previously.
In the list of Botteghino of all the time of China, only one imported film is among the first 20 – “Avengers: ultimatum”, with revenue of 4.25 billion yuanes ($ 579.83 million). The other films among the top 20 are all national productions.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
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