China
box office revenue hits $4.7 billion, speeds past 2014
total
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[September 08, 2015] SHANGHAI
(Reuters) - China's box office takings have topped 30
billion yuan ($4.71 billion) so far this year,
overtaking the total for the whole of 2014 as the
country's cinema market continues its rapid climb, a
major lure for Hollywood studios and investors.
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The takings mark a 48.5 percent jump against 2014, and mean
China is on track to hit 40 billion yuan this year, state news
agency Xinhua said, citing the State Administration of Press,
Publication, Radio, Film and Television (SARFT).
The allure of China's box office has become increasingly
difficult to resist for global film-makers from Sony Corp to
Walt Disney Co, despite challenges of navigating the country's
censors as well as getting one of the coveted 34 spots allowed
for foreign films each year.
Last November, the vice president of the China Film Producers'
Association, Wang Fenglin, said the Chinese film market would
overtake the United States to become the largest in the world
within three years.
Box office receipts in the United States and Canada combined
fell 5 percent last year but still hit $10.4 billion, according
to the Motion Picture Association of America Inc. China's
takings jumped 34 percent in the same period.
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While foreign films still often top China's box office charts -
action flick "Furious 7" currently holds the number one spot -
Chinese movies have raked in 18 billion yuan so far this year, 60
percent of the total, Xinhua reported SARFT as saying.
Chinese blockbuster "Monster Hunt", China's highest-grossing film
ever, is also likely to steal the top spot after raking in 2.4
billion yuan since its debut on July 16, Xinhua said.
China's box office lure has also led some studios to remove scenes
from their films and add characters to help get past censors and
appeal more to a Chinese market, stoking concerns of
self-censorship.
(Reporting by Adam Jourdan; Editing by Sunil Nair)
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