China's total box office revenues are expected to reach $5 billion by next year, a sign of increasing wealth and attendant growth in cinemas, particularly in its fast-growing cities. That figure is nearly half the returns of North America.
Talk about transforming. China once limited foreign films to 20 releases a year, fearing they would taint people's minds with polluted ideas uncensored by the Communist Party. In 2012 the quota rose to 34 releases a year, and is forecast to rise again. Beijing has accepted that foreign films rule.Transformers 4 may eventually depose Avatar, which brought 1.3 billion yuan, as the highest-grossing film ever shown in Chinese cinemas, Xinhua notes. At the time of publication, the author held no positions in any of the stocks mentioned. Follow @laowiseass This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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