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China's movie revenue up 25% for 5 straight years
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Annual revenue for China's film industry has increased 25 percent each year in the past five years, far exceeding the growth in GDP which was around 10 percent over this period, said Han Sanping, the president of China Film Group Corporation (CFGC) on Tuesday.

"The growth is exciting, and proves the success of China's movie development strategy," said Han, head of China's largest state-owned movie producer and distributor.

During the three-month show time for China's New Year blockbusters which started in December, the Chinese cinema box office has reaped over 800 million yuan (about 111 million U.S. dollars), said an official with China's State Administration of Radio, Film and Television.

The box office of four New Year hits has collected about 785 million yuan. The Assembly and The Warlords shown in December earned 260 million yuan and 220 million yuan respectively, and the now-showing CJ7 and Kongfu Dunk have got 185 million yuan and 120 million yuan as of last week. Some low-cost movies have also contributed a lot to the total earnings.

"800 million yuan is a striking number, showing Chinese film makers have found the key to satisfying Chinese filmgoers," said Zhang Hongsen, a senior official of State Administration of Radio, Film and Television.

Meanwhile, foreign movies made only 50 million yuan at the box office during the same period.

However, Han said Chinese films still have a long way to go because of the wide gap between them and their overseas competitors in terms of distribution, production and sales.

(Xinhua News Agency February 26, 2008)

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