China adopts new protectionist measures against Hollywood movies
The Chinese authorities have announced a new package of protectionist measures that will be designed to increase the proportion of movies of its own production in the national box office. According to The Hollywood Reporter, in particular, the distribution networks, which will confirm that two-thirds of their box-office receipts come from the distribution of Chinese movie projects, will be able to reduce their tax burden. Previously, cinemas donated five percent of the box office to the state structure China Film Bureau. With the help of these amounts, a fund was formed to support the domestic movie industry. If the above rules are followed, payments will be halved. This initiative, without any doubt, will deal a tangible blow to the distribution of foreign and, above all, Hollywood movies in China. Their share in the national box office is steadily declining. Thus, in 2015, more than 60 percent of the box office in China was provided by showing movies of its own production. Recall that China has a whole series of protectionist restrictions on foreign-made movie projects. No more than 34 such movies can be released per year. The aggregate box office in the country is growing at an alarming rate. The Chinese movie market is expected to become the world's leading movie market by the end of 2017. The Topic of Article: China adopts new protectionist measures against Hollywood movies. |
