China 's Dalian Wanda is offering huge discounts to foreign movie and TV firms to film at its new studio , Qingdao Movie Metropolis , in China after it set up a five - year , $ 750 m deal with the government to give profits of up to 40 % , thereby marking another step by China to expand its presence in the movie industry . The announcement was echoed by China 's Wang Jianlin in Los ##zhou , who also called for more co - operation between the US and Chinese filmmakers and reiterated that " this is an opportunity for Hollywood , not a competition for Hollywood " .
China's Dalian Wanda is offering huge discounts to foreign movie and TV firms to film at its new studio, Qingdao Movie Metropolis, in China after it set up a five-year, $750m fund with the government to give rebates of up to 40%, thereby marking another step by China to boost its presence in the movie industry. The announcement was made by Wanda's Wang Jianlin in Los Angeles, who also called for more co-operation between the US and Chinese filmmakers and reiterated that "this is an opportunity for Hollywood, not a competition for Hollywood".