The Chinese Movie Market is on its way to becoming the largest in the world and is growing by approximately 25-42% per year. The US market by comparison (currently the largest market in the world) has been shrinking by approximately 1-2% per year.
The Chinese film industry has, over the last fifteen years, been the fastest growing film industry in the world; it is now the second largest market in the world. China's box office receipts have increased from US$240 million in 2005 to US$2.0 billion in 2012 and projected to surpass $2.5 billion this year.
China’s rapid movie industry growth has revealed an underlying structural problem: the creative forces in the Chinese domestic industry, particularly concerning script, cannot be developed overnight. Their industry has been sharply criticized, for example, by the success of Kung Fu Panda - China's national animal, and China's national sport, but an American production. The Chinese production community and the Chinese government are concerned that as their markets open and expand, they will be overwhelmed by American films and American values as presented by the American film industry.
China is compelled to express their own views of the world, their country, and their culture to their domestic market and the world. They also want to keep control of their own internal market.
Raising the quotas has increased pressure on domestic Chinese filmmakers because around two-thirds of ticket sales in the first half came from foreign films, and nine of the top 10 were from Hollywood — a result the Chinese news media labeled “a crushing defeat” and “rather embarrassing.”
Source: New York Times
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