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China had over a billion moviegoers in 2024 and its movie theaters were once in thrall to Cinema Americana. But last week the Chinese government said it would immediately restrict imports of Hollywood films in retaliation for President Donald Trump's escalation of U.S. tariffs on imported Chinese goods.

Hollywood's box office returns in China were already declining significantly in recent years, coinciding with the rise of domestic cinema. But that trend is now set to be accelerated as China and Spain sign a memorandum of understanding on film cooperation. CGTN’s Ken Browne reports.

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00:01Chinese Premier Li Chiang and Spanish Prime Minister Pedro Sanchez oversaw the signing of a Memorandum of Understanding on Film Cooperation between China and Spain in Beijing last week.
00:13It brings the two nations closer in the cultural world, reflecting a rapidly growing trade and diplomatic relationship.
00:20The Chinese ambassador to Spain, Yao Jing, gave CGTN more details about the agreement in Madrid.
00:27There are several aspects, for example, further joint production of such films, documentaries or other stories or whatever.
00:38Second, we will purchase more Spanish movies, films, because you have produced excellent movies globally.
00:47Thirdly, that's why we will encourage more participation of both companies or movies for the festivals, movie festivals, for more exchanges of these kind of movies.
00:58Good news for Spain's filmmakers, as China had over a billion moviegoers in 2024.
01:05It's the second biggest film industry in the world, and China's decision to scale back Hollywood movies allowed into the country due to tariff conflict presents a big opportunity for European cinema.
01:18Collaborations are already happening, like Dragon Keeper, the first ever China-Spain co-production, an animated film set in the Han Dynasty about the last of the dragons.
01:34Starring Bill Nighy, Bill Nighy, Bill Nighy, Bill Nighy, Bill Nighy, Bill Nighy, Bill Nighy and Mayalini Griffith, the film has two directors, Salvador Simo and Li Jinping.
01:43Two directors, two screenwriters, two BFX supervisors, every member of the team of the supervisions of the chief of departments were Chinese and Spanish.
01:58You need to find the values that we share, and that was the challenge, and that is a success.
02:05Because we made the film, the film is successful, at one of the biggest prizes in China, it's been released in more than 30 countries up to now, so it's a success.
02:21Dragon Keeper had a night at the Golden Roosters, known as the Chinese Oscars, winning Best Animated Film at the end of last year,
02:29and could be the first of many collaborations following the signing of this new agreement.
02:36Ken Brown, CGTN, Madrid.
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