Peculiarities of market development of the film industry in China

Abstract

The importance of the film industry for the state is difficult to overestimate: replenishing the state budget, creating jobs, attracting foreign investments, improving the country’s reputation, promoting national culture, etc. It is necessary to highlight other functions of the film industry: creation and dissemination of certain values, promotion of state ideals and priorities. As an example, the cinema of the People’s Republic of China was taken as the most promising country in this sphere. In ten years, China managed to rise from a low position to the second place in the rating of box office receipts and the number of films released. The main reasons are the state’s protectionist policy, the country’s technological advancement and a large population. As many experts believe, in the near future China will become the largest market in the film industry. The key genres of cinema popular among the local population are action films, comedies and drama films. Due to the pandemic, the industry faced problems in the first half of 2020, but already now, thanks to timely government action, certain improvements are being made. By one indicator – box office receipts – China took a leading position in the world by October 2020.