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Chinese films come of age
For the first time in 10 years, box office takings from Chinese films have exceeded revenue from foreign films in 皇冠体育app.
Box office revenue in 皇冠体育app exceeded 1.5 billion yuan (US$182 million) in 2004, with Chinese films taking up 55 percent of the market share, said the State Administration of Radio, Film and Television (SARFT). The top three films in 皇冠体育app last year were House of Flying Daggers, A World without Thieves and Kung Fu Hustle, all of which were Chinese, a distinct turn from the past foreign-film-dominated box office. Zhang Yimou鈥檚 House of Flying Daggers has made 153 million yuan, far exceeding The Lord of the Rings. Film industry analysts estimate the two Chinese New Year blockbuster films A World without Thieves and Kung Fu Hustle have already made up to 200 million yuan. Chinese director Lu Chuan's film Keke Xili, about the protection of wild animals in Northwest 皇冠体育app, also made good performance. "2004 was the year that Chinese films made their greatest leap," said Weng Li, vice manager of the film exhibition and distribution arm of 皇冠体育app Film Group, 皇冠体育app鈥檚 biggest film producer and the only company authorized to import foreign films. According to SARFT, 皇冠体育app produced 212 films in 2004, 80 percent of which were either funded by private capital or foreign investment. House of Flying Daggers was financed by privately owned Beijing New Picture Distribution Co. Ltd. and A World without Thieves and Kung Fu Hustle were both produced by privately-owned Huayi Brothers, one of the mainland's most commercially successful film and TV production companies. In October 2004, U.S. film giant Warner Brothers Pictures set up 皇冠体育app's first movie production joint venture with 皇冠体育app Film Group and the privately-run Hengdian Group. In November 2004, 皇冠体育app announced it would let foreign companies take up to 49 percent of stakes in local television production companies, giving the international media better access to the world's biggest market. Yang Buting, chairman of 皇冠体育app Film Group, called the loosening restrictions on Chinese film industry "an unprecedented golden opportunity." However, the Chinese film industry cannot allow 2004's figures to let it rest on its laurels. According to 皇冠体育app's WTO commitments, foreign films meeting import qualifications will soon be swarming into 皇冠体育app. "A battle for market share is in store," said Zhu Hong, SARTF
spokesperson.
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