CHINA CLAIMS HUGE GROWTH IN FILM BIZ

The government of China reported today (Tuesday) that annual revenue of the country's motion picture industry has risen 25 percent each year since 2002, far surpassing the rise in the country's gross national product of 10 percent annually during the same period. The announcement was made by Han Sanping, president of the state-owned China Film Group Corporation, in an interview with Xinhua, the official government news agency. "The growth is exciting, and proves the success of China's movie development strategy," Han was quoted as saying. He referred specifically to several blockbusters that were released since the start of China's New Year in December, which together have earned $111 million. That figure was described as "striking" by Zhang Hongsen, a senior official of State Administration of Radio, Film and Television, who added that it shows that "Chinese film makers have found the key to satisfying Chinese filmgoers." He pointed out that "foreign" movies earned less than 10 percent of that amount during the same period. However, some Hollywood studios have pointed out that they were not allowed to compete with Chinese films during that period.


26/02/2008