China is one of the world’s largest film markets, second only to the United States. Its rapid growth has prompted a flurry of deals between China and Hollywood studios and producers.

CCTV’s Zhao Yunjie looks at what it means to filmmakers both in China and the U.S.

More details:

• In 2014, China’s box office brought in nearly five billion dollars. Foreign films grossed nearly half. After China President Xi Jinping’s state visit to the U.S., the two countries renewed their agreement on film distribution, which gives foreign film-makers better access to the world’s second largest movie market.
• Over the last decade, the number of Chinese cinema screens has increased eight fold. It’s a vast market up for grabs, and business analysts say cooperation will guarantee everyone wins.