|Charissa Echavez |||Apr 18, 2016 09:59 AM EDT|
(Photo : Getty Image) China is the new Hollywood, filmmakers and experts say.
Many experts believe that China's movie industry will soon surpass that of the United States, and now, some Chinese and Hollywood moviemakers second the motion, The Wall Street Journal reported.
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"The investors in China's film market are entrepreneurs with innovative teams while Hollywood is producing more sequel and lacks innovation," Yu Dong, Bona Film Group CEO, said during a seminar on China-foreign co-productions hosted by the Beijing International Film Festival.
"The young Hollywood and Asian directors who can't get support from big Hollywood studios will come to China because Chinese capital is overflowing," Yu continued.
A number of big names from the West such as Mad Max: Fury Road (2015)'s producer Iain Smith and American actress Natalie Portman graced their presence in the seminar.
Even award-winning American screenwriter and producer James Schamus said that China is helping "create a new Hollywood which is going to be paradoxically not as Chinese as we think it is, but more Chinese than we know."
Marvel's Captain America director Joe Russo also said that Hollywood producers are attracted to the Chinese market because of "economic and artistic reasons," further explaining that the US' film market now prefers on playing around its comfort zone and is "becoming more and more about branded content."
"China is an explosive market, so [it's] absolutely another option for filmmakers," Russo said. He added that he and his brother Anthony Russo frequently visit Beijing to look for "new voices and new experiences."
It seems that this is the perfect timing for Western filmmaking talents to expose their skills and uniqueness to Chinese cinemas, as a growing number of Chinese audiences start to show more interest in locally produced movies rather than Hollywood megahits.
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