While China's film industry slowly matures, foreign films continue to make in-roads into the country's market. 2012 was a huge year for imported films in China. In February, China amended its rules to allow more foreign movies to be distributed nationally. And the impact can be seen not just in the theaters, but also in the tax income generated by these imported films.
According to statistics released by Beijing customs, in 2012, tax revenue from imported films totalled 200 million yuan, or roughly 29 million US dollars. That's up by 60 percent compared to the previous year.
"Titanic 3D" racked up 900 million yuan in ticket sales and contributed 43 million yuan in taxes. Other works like "The Life of Pi" and "Skyfall" were also major earners. With this in mind, analysts predict the number of imported blockbusters -- and their tax contribution -- to surge even more this year.
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