Reports by an American newspaper that China will raise its quota for importing foreign movies have been denied by Chinese officials.
On Sunday, the Hollywood Reporter reported that the "Film Bureau in Beijing looks set to raise the quota of foreign movies allowed into China by 10 movies to 44 films."
The paper claimed this "was a sign of growing openness in the world’s second-biggest box-office market" and that "raising the quota could do much to improve relations between Hollywood and China". The story was quickly picked up by other sites.
THR said the quota could be raised as soon as March, when China's parliament, the National People's Congress (NPC), meets in Beijing. The next day, however, the State Administration of Press, Publication, Radio, Film and Television denied the report, according to news portal sohu.com. An anonymous source said "there isn’t such a thing, the quota is still 34".
In February 2012, China did raise the number of foreign movies allowed to screen in China from 14 to 34 on a revenue-sharing basis, making room for more 3D and IMAX titles. The deal was announced by president Xi Jinping during a visit to the United States. The agreement also allowed American producers to take 25 percent of movie revenues in China, instead of the previous 13 percent. Hollywood has lobbied hard for the import quota to be lifted completely, stating it breaches the rules of the World Trade Organization (WTO), of which China is a member.
In 2012, the total box office revenue in China was around 17 billion yuan ($2.8 billion), with local movies only accounting for 48 percent, the first time in a decade that local productions made less than foreign films. In 2013, however, Chinese movies made a comeback and took over 60 percent of box office revenues.
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