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June 13, 2011 by · Leave a Comment 

“The truth is there is no more exciting market in the world” than China, Rupert Murdoch declared on Saturday. Appearing at a news conference at the Shanghai Film Festival, the News Corp chairman said that while revenue growth at the Chinese box office has been breathtaking — it rose from $150 million to $1.5 billion from 2005 to 2010 — it “has not been fully realized because market access remains so restricted.” Murdoch, who owns 20th Century Fox, was referring to China’s policy of limiting foreign film imports to 20 per year despite a WTO ruling demanding that it reverse the practice. “In the long run, it will only limit the opportunity for China to grow its cinema market.,” he said. “As China’s theatrical market tries to continue to grow, it is critical to fill the pipeline with more local films, as well as more films imported from other countries.” Also making an appearance at the festival: MPAA Chairman Christopher Dodd. Speaking to the Hollywood Reporter about the Chinese restriction on foreign films, Dodd said bluntly, “If the argument is that China’s not mature enough, well that’s baloney.”