Chinese movies posted weaker growth at the box office last year and some companies have even pulled back on their investments in the movie business, but analysts say China's Hollywood dreams are still alive and well.
Recent news has not painted a rosy picture for Chinese firms' film ventures: Chinese smartphone maker Xiaomi announced it was downsizing its film-making division, Xiaomi Pictures, due to internal "adjustments," local media reported in January this year. The company is reportedly closing its film marketing unit and refocusing its energies on phone production after losing market share to other phone manufacturers.
And in December, copper processing firm Anhui Xinke New Materials canceled a deal to buy Voltage Pictures for $345 million, according to entertainment trade weekly Variety. Voltage had financed the Academy Award-winning films "The Hurt Locker" and "Dallas Buyers' Club."
Part of the reason for those retreats could be the discovery of the relatively weak profits in film production.