BEIJING - China's movie market is neglecting to take full advantage of the country's growing love of the big screen, leaving the doorway available to Hollywood, based on a senior film industry insider.
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Tong Gang, director of the State Film Bureau affiliated to the State Administration of Radio, Film and tv, said China's film industry just can't yet contend with Hollywood blockbusters like Avatar and Inception.
"China still lacks good films, " said Tong on Friday in Beijing.
He said the country's box office takings had soared to some record 10. 17 billion yuan ($1. 5 billion) this year - a year-on-year rise of 63. 9 percent.
The latest huge jump was a part of a long-term trend. China's box office takings happen to be growing by typically 35 % every year since 2003.
The country's thirst for any night in the movies spawned 313 new theaters this year. Tong said typically 4. 2 big screens go live every day.
And China is unquestionably trying tough to produce those Hollywood-style blockbusters. The nation made 526 movies this year Up 15 % on 2009 - making China the third-largest film maker after Bollywood and Hollywood.
Chinese-made films are also getting larger audiences overseas. This past year, Chinese movies grossed 3. 52 billion yuan, that was up 26. 9 percent on 2009.
But Tong said the truth that Chinese people spent 10. 17 billion yuan in the box office this past year wasn't yet cause of celebration.
"Ten billion yuan is simply something to feel better about, although not to exhibit off about, " he explained.
About 20 % of the box office spending was funneled toward two Hollywood blockbusters: Avatar and Inception.
The highest-grossing domestic film, Feng Xiaogang's Aftershock, raked in just 673 million yuan.
"So far, it's not been possible to contend with such films as Avatar and Inception, " Tong said. "Far too few domestic films are very well received through the public. "
And China's film market is also eagerly awaiting more up-to-date details about box office receipts. Their state Film Bureau has worked on the more timely system but, currently, similarly info is just released quarterly.
In March, China will work with the World Trade Organization on the WTO's demand it to spread out up its film market and permit foreign film companies to distribute their films independently, instead of through State-owned Chinese companies. Zhang didn't discuss what impact that ruling may have on the Chinese film industry.
Jiang Wen's Allow the Bullets Fly, released on Dec 16, has proved to be one of the most widely used recent Chinese releases. It's to date grossed more than 500 million yuan. This past year, 17 films took more than 100 million yuan in the box office.
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So-called hot cash is also understood to be an issue within the movie industry. Recently, the booming Chinese box office is believed to possess attracted lots of investment finance.
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