A hot Chinese film, "Painted Skin 2", has a box office intake at 300 million yuan (approx. US$47million) within only four days, which encouraged China's film industry. However, a fact can't be neglected is that domestic films have experienced a crushing defeat in the first half of 2012.
China's total box office gross over the last half-year was 7.74 billion yuan (US$1.21 billion), a 35 percent jump from box office results during the same period time last year. However, 38 foreign films raked in 5 billion yuan (US$787 million) , and represent 65 percent of the total. Over 100 domestically-produced movies earned less than 3 billion yuan.
Hollywood's 3D re-release of "Titanic" grossed 976 million yuan (US$153.62 million) in the Chinese market, and was the biggest grossing film in China so far. The list of the China's top 10 box office winners also includes: "Mission: Impossible - Ghost Protocol," "The Avengers," "Men In Black 3," "Journey 2: The Mysterious Island," China's latest "Painted Skin 2: The Resurrection," "Battleship," "John Carter," "Sherlock Holmes: A Game of Shadows," and "Wrath of the Titans." Nine of these movies are from Hollywood, which is rather embarrassing for the Chinese film industry.
The loss rate for Chinese films was high, which will decrease investor confidence. Something must be done to prevent the Chinese films industry from suffering further losses.
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