China has Hollywood-size ambitions for film industry
By Bill Savadove
Chinese companies are ramping up investment in the foreign entertainment industry, as the country seeks to boost “soft power” by crafting films which appeal to global audiences, industry officials said this week on the sidelines of the Shanghai film festival.
After decades of spreading the message of the ruling Communist Party, Chinese studios have become more attuned to commerce, but still face strict government controls over content deemed politically sensitive or pornographic.
But cashed-up Chinese companies have grander ambitions than the domestic market, making investments in US studios, signing co-production deals with other countries and seeking global box office success. Read more