Huaxia, China’s second-largest film distributor, has entered into a strategic partnership with Hong Kong-based China Digital Licensing, the two companies announced Friday.
Huaxia and the China Film Group – both backed by the Chinese government -- are the only two entities with official licenses to import and distribute foreign films in China.
Hong Kong-based China Digital Licensing is a digital copyright licensing and distribution firm. It is listed on the Hong Kong Stock Exchange and claims to be the largest distributor of licensed music and sports content in mainland China. The company was a partner with the Chinese Olympic Committee in 2008 and says it accounts for 50 percent of all professional sporting event broadcasting and distribution in China. The new deal with Huaxia will accelerate an expansion into film and TV content distribution that the company launched in 2012.
According to a statement released by China Digital Licensing, the new partnership “aims to jointly expand overseas markets for domestic films and television, improve the international influence of top ranking Chinese films and [TV shows], as well as promote exchanges and cooperation between cultures home and abroad.”
Financial terms were not disclosed.