The Hill News

The White House and Hollywood studios are heralding a new trade agreement with China that gives the United States the chance to increase the number of films exported to the country and substantially increases American studio's cut of Chinese box-office revenue.

“This agreement with China will make it easier than ever before for U.S. studios and independent filmmakers to reach the fast-growing Chinese audience, supporting thousands of American jobs in and around the film industry,” said Vice President Joe Biden. “At the same time, Chinese audiences will have access to more of the finest films made anywhere in the world.”

Biden spent Friday in Los Angeles with Chinese Vice President Xi Jinping.

The five-year agreement allows the exportation of 14 more films to the country annually, with a focus on 3D and IMAX movies that carry higher ticket prices - and are best viewed in theaters, rather than on DVDs that can be easily bootlegged. Under the pact, American film companies can distribute the films privately, rather than through a state-run association, significantly increasing their cut of ticket revenues.

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