Saturday, April 19, 2014

REPORT: OBAMA LETTER HELPED OPEN CHINA TO HOLLYWOOD

February 27, 2012 by · Leave a Comment 

Xi, Biden

In late December, President Obama wrote a personal letter to Chinese president Hu Jintao urging the Chinese leader to make good on repeated promises to allow more foreign films to be shown in the country and to increase the percentage of box-office revenue that foreign producers may receive, according to the Hollywood Reporter, which cited an unnamed senior White House official. The president’s letter was reportedly followed up by a phone call by Vice President Joe Biden to his counterpart, Vice President Xi Jinping, about the issue, which in turn was followed by “all-consuming” talks between Xi and U.S. officials, including Biden, on February 17, according to the trade publication. Those talks resulted in an agreement to pay Hollywood studios 25 percent of profits from the Chinese box office and to allow 14 additional 3D or IMAX movies to be shown in the country every year. The rewards to the studios could be considerable. The number of screens in China rose to 9,200 last year versus 6,223 in 2010. (There are more than 30,000 movie screens in the U.S.)