20th Century Fox
China Film Administration (CFA) statedthat will reduce imports of American films in response to Donald Trump’s decision to increase duties on the country by 125% (the total allegedly already exceeded 145%).
«We will follow the rules of the market, respect the choices of viewers, and moderately reduce the number of imported American films,» the CFA says, calling the new duties «a wrong move» that will inevitably further reduce the commitment of domestic audiences to American films.
Earlier, China unveiled its plans to impose reciprocal duties on US imports of 84%.
Under previous agreements, China has agreed to release 34 foreign films a year and provide foreign studios with 25% of ticket sales, but it is unclear to what level these figures will be reduced.
The popularity of Hollywood films has fallen sharply over the past few years in the country, but some titles can still generate significant revenue — in 2022 «Avatar: The Waterway» earned $246 million at the Chinese box office, and last year, films from the United States grossed about $585 million (3.5% of the $17.7 billion Chinese box office). This year, the lion’s share of China’s revenue came from animated hit «Nezha 2» with a record $2.1 billion.
The news of the cuts seems to have taken many in the Chinese film industry by surprise. Only on Monday, the local film bureau approved «Thunderbirds» Disney and Marvel for the April 30 screening — it is now unknown whether the release will take place.