Film industry law takes effect, invigorating market
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E-mail Xinhua, March 2, 2017
A law on the film industry, the first of its kind in China, entered into effect Wednesday, injecting vigor into the development of the world's second largest film market.
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Mike Tyson and Donnie Yen star in "Ip Man 3," whose distributor has been punished for ticket sale manipulation. [Photo / China Daily] |
The movie market in China has grown by leaps and bounds since 2003, when the country relaxed the number of imported films allowed to be shown in cinemas.
Over the past decade or so, China has seen a 45-fold surge in box office revenue from a mere 1 billion yuan (around 14.5 million U.S. dollars) in 2003 to 45.7 billion yuan in 2016.
"Progress has been made, but problems persist," said Wang Xiaotao, deputy head of the National Development and Reform Commission, China's top economic planner, highlighting the importance of better rules in the country's film industry.
In March 2016, China's film market watchdog suspended the license of a distributor that inflated the box office receipts for domestic movie "Ip Man 3." However, the pains in China's film market are not limited to box office fraud.
After years of legislative research and three rounds of deliberation, the national legislature adopted the film industry law in November 2016, aiming to address problems, such as red tape in film making approval and a lack of copyright protection.
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