Filmmaker Ang Lee is bullish about China's box office, while emphasizing that it could be bigger than Hollywood.

He said that the Chinese film market is likely to see exponential growth, especially that the country is no longer reliant on him for bridging the gap between Hollywood and China.

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Speaking at the BAFTA Britannia Awards in Beverly Hills, Lee said the Chinese market is big and is set to get even bigger in the coming years. He said Chinese films offer fresh perspective.

Ang Lee is the first Asian to win an Academy Award for director. He won it for his 2006 film "Brokeback Mountain."

Hollywood is not looking to boost its ties with the Chinese market to reap the benefits.

There have been a number of collaborationrecently to enhance the relationship between the two leading film markets.

Earlier this year, Alibaba inked a deal with Steven Spielberg's Amblin Production. The collaboration will co-produce films for global markets.

According to PricewaterhouseCoopers, the Chinese box office is likely to swell to $8.9 billion by 2019. The box office amounted to $4.3 billion in 2014.

Chinese real estate conglomerate Wanda Group also increased its foothold in Hollywood by signing a deal with Sony Entertainment.

The collaboration will entail co-producing films as well as marketing them in burgeoning China markets.

Wanda also snapped up Legendary Entertainment for $3.5 billion earlier this year. The firm is behind the movies such as Jurassic Park. Apart from this, it is also building a massive film studio in China, which will be open to global studios should they need a location for a shoot. 

TagsAng Lee, Brokeback Mountain, BAFTA