Last updated: April 19, 2012 - 7:25pm
China and Hollywood are gearing up to make more films together. Hollywood wants access to a rapidly growing foreign market, while China wants Hollywood's help to duplicate the success of big-budget U.S. films.
Walt Disney Co. and China's DMG Entertainment said they agreed to co-produce the next "Iron Man" film in China. Other major U.S. studios have announced Chinese joint ventures or co-productions in recent months. But challenges lie ahead. While the Chinese government has taken key steps recently to lure foreign filmmakers, it still maintains a tight grip over who participates in its film industry and what they are allowed to make.
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