The managing committee of the National Film Development Fund, which is linked to the regulator SARFT, takes 5% of all B.O. revenues, but it has said it will return all or part of this cut to theaters that show more local movies.
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Last year (2011) was the first year that annual box office in China crossed US$2.0 billion (RMB13 billion). 3D films had a 40% share of it (US$ 790m, RMB 5bn).
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Superior Venture Corp. has acquired Ilustrato Pictures Ltd., a motion picture development and production company focused on co-creating feature film projects with Chinese companies.
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Huayi Brothers and Stellar, two film production companies in China, reached an agreement Sunday with cinema chains on flexible division of box office revenue for their films, offering a possible conclusion to the recent spat.
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