Landmark move in China film business

Xi Jinping, the president of ruling communist part of China, has been dedicated in growing “soft power” in China. Chinese and Chinese government are anxious to get ride off the title of “the greatest manufacturing country”. Right, Let’s give this “Made In” nation to someone else because it didn’t bring much glory to hardworking Chinese who are trying to get away from poverty.

President Xi announced a plan for intellectual property rights and ownership reformation. He encourages private input and innovations. 

Hollywood people must jump so high and clap their hands now. It seems a greatest policy that Chinese people have to pay for content they viewed. It could be more online content revenue generated. Piracy DVD and online video sites will be regualted by laws. American companies and creative artist finally don’t need to worry about their intellectual property being duplicated then made into new version for audience in China, without notice.  

However, Hollywood may need to rise concern on the share of future film market in China. Local films and Chinese language films will be unbeatable and keeps gaining a larger market share in next few years. Entertainment studios are developing fast in China, and the online produced original content are being circulated on social media. American studios are now living under the rule of film quota system, which means only 34 foreign films allowed on screen each year. In the mean time, foreign films can’t be scheduled during certain period of time each year. Like October is national month in China. Administration of Radio, TV and film will green lights local films and protects their B.O.

Now China’s GDP growth amazes everyone. So time to switch focus. China government is acknowledgeable the power of Chinese netizens. By far, China is the largest single internet market with 528 million of people connected to the web by 2012. E commerce is going to make your jaw drop. Last year, Chinese consumers generated 2 trillions RMB in from shopping online. 

What’s Hollywood strategy? 

20 century Fox started to invest films production in Asian countires and co-finance local language films. Should Hollywood learn to a local language film? Would it change hollywood taste?

 Chinese audience adore Hollywood films. but We don’t know how long it will last…

 

Best,

Olivia

 

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