Wed August 8, 2012 11:03am
The huge commitment in local production comes even though Beijing maintains strict quotas which limit the number of foreign movies allowed into China.
Imports of foreign films into China on a revenue-sharing basis are currently limited to just 34 annually, though that was raised from 20 earlier this year.
Disney said in April it had joined an initiative to develop Chinese animation productions.
It will also co-produce Iron Man 3 in China with DMG Entertainment, as Hollywood seeks to tap into the fast-growing movie market.
China's box office grew an annual 35 per cent to $2.0 billion in 2011, making it the second largest international market behind Japan, according to the Motion Picture Association of America.
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