China: World's Second Largest Movie Box-Office

According to the Motion Picture Association of America (MPAA), China is now the world's second-largest box office territory outside of the US.

The MPAA's 'Theatrical Market Statistics' indicate that China's box office movie take in 2012 was close to $3 billion, up from $2 billion in 2011.

Reports out of China say the country is building new theatres at the rate of 10 screens a day.

As is the case with Marvel Studios upcoming Chinese co-production "Iron Man 3", expect to see more Hollywood features tailored for the lucrative Chinese market.

China began to relax its strict quotas for the release of foreign-made films in early 2013, following a visit to the US by China's president.

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