Film mar­ket grow­ing

Global Times - - Biz Update -

China’s box- of­fice sales will reach 55 bil­lion yuan ($ 8.36 bil­lion) in 2017 and the Chi­nese film mar­ket is ex­pected to be the world’s largest by 2020, said the State Ad­min­is­tra­tion of Press, Pub­li­ca­tion, Ra­dio, Film and Tele­vi­sion ( SAPPRFT).

The in­crease in fa­cil­i­ties has cre­ated a foun­da­tion for the boom­ing mar­ket. China has sur­passed North Amer­ica with more than 44,400 movie screens, in­clud­ing more than 38,300 3D screens in China as of March 2017.

Chi­nese films raked in nearly 49.3 bil­lion yuan in ticket sales in 2016, in­clud­ing 3.8 bil­lion yuan in over­seas mar­kets, ac­cord­ing to the SAPPRFT.

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