Latest news with #FilmAdministration
Pink Villa
17-05-2025
- Entertainment
- Pink Villa
Box Office: Mission: Impossible—The Final Reckoning lands May 30 China release amid country's thawing trade tensions with US; check MI 7's performance
Paramount Pictures' Mission: Impossible—The Final Reckoning has officially secured a theatrical release date in China, with the eighth installment in the franchise set to hit screens on May 30, just one week after its North American debut. The announcement comes after a period of uncertainty during which China's Film Administration pledged to moderately reduce the number of U.S. films allowed in the country in response to President Donald Trump's steep 145 percent tariffs on Chinese imports. The release clearance comes amid a thaw in U.S. and China trade tensions following negotiations in Geneva, where both nations agreed to suspend and roll back certain tariffs, creating a more favorable environment for pop culture exchange. The new agreements appear to have opened the door for high-profile U.S. titles, with The Final Reckoning joining Disney's Thunderbolts, The Accountant 2 (May 16), Lilo & Stitch (May 23), and How to Train Your Dragon (June 13) on China's upcoming Hollywood release slate. Mission: Impossible—The Final Reckoning had its world premiere in Tokyo on May 5 and was screened out of competition at the 78th Cannes Film Festival on May 14. The action-packed sequel stars Tom Cruise, Hayley Atwell, Ving Rhames, Simon Pegg, Henry Czerny, and Angela Bassett, with returning director Christopher McQuarrie. Originally titled Dead Reckoning Part Two, the film was retitled in November 2024 and is now staged as the final chapter in Ethan Hunt's decades-spanning journey. Filmed across the UK, Malta, South Africa, and Norway, the movie faced production delays due to the 2023 SAG-AFTRA strike. It resumed in early 2024 and wrapped in November of the same year. With a reported budget of USD 300 to USD 400 million, Final Reckoning ranks as one of the most expensive films ever made. That makes it imperative for the film to earn north of USD 1 billion to be considered a success, something that would have been challenging without screens in the world's second-largest theatrical market. China contributed USD 28.8 million to Dead Reckoning's total gross in 2023, about 8.5 percent of its global revenue. With improved diplomatic ties and Cruise's enduring popularity in the region, The Final Reckoning is expected to outperform its predecessor and add significant momentum to Paramount's international box office run. As global interest builds, all eyes are on whether Ethan Hunt's last outing as the iconic IMF agent can achieve franchise-best numbers.
CBS News
10-04-2025
- Entertainment
- CBS News
China is a vital market for the U.S. film industry. Here's how the trade war could have major impacts.
President Trump's trade war with China could have a major impact on Hollywood, with some saying a potential ban could be placed on American movies. The country has been a vital market for the U.S. film industry. " A couple of prominent bloggers who are connected to the main party in China suggested that China might consider putting blocks on the Hollywood films that do get released in China," said Sharon Waxman, editor-in-chief of "The Wrap," which covers Hollywood's reliance on international ticket sales. The sources who first reported the potential ban are well-connected in China's media establishment. However, it's not clear when or if these retaliatory measures would take effect. On Thursday, China's Film Administration said it would "moderately reduce" the number of U.S. films it imported into the country, in response to the new tariffs. "The wrong action of the U.S. government's indiscriminate tariffs on China is bound to further reduce the favourable impression of domestic audiences on American films," a statement from the film administration said. Although China restricts American films, one industry expert said the average U.S. film makes about 10% of its gross from the China market. At the box office, "A Minecraft Movie" wasn't just a blockbuster in the U.S. It also topped the charts in China last weekend. Last year, "Godzilla X Kong" made more money in China than anywhere else in the world, including the U.S. Monique White is the executive vice president at California Pictures, a distributor of independent films. She said studios losing revenue from a massive market could impact production in the future. "That means their budgets are gonna have to go down because they're not gonna see that money coming out of China and if what happens in China's gonna happen in Europe and in Australia and any other countries, those budgets are gonna have to get squeezed even more," White said. The potential impact of trade tension with China is the latest issue for an industry still trying to recover from back-to-back labor strikes and a nearly two-year shutdown due to COVID-19 pandemic. "What people in Hollywood worry about is that there is inevitably going to be some pullback," Waxman said. "People will go to the movies less if they were going. They might have one less streaming service." Mr. Trump announced a 90-day pause on tariffs for most countries on Wednesday, while lowering the "reciprocal tariff" rate to 10%. The president also increased tariffs on goods from China to 125%. "Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately," Mr. Trump wrote on Truth Social. In response, the European Union on Thursday announced its own 90-day pause on retaliatory tariffs. Meanwhile, China's Commerce Ministry spokesperson, He Yongqian, said, "China's position is clear and consistent: the door to talks is open, but dialogue must be conducted on an equal basis with mutual respect. China will stand by its position until the end. Pressuring, threatening, and blackmailing are not the correct ways to deal with China. We hope that the U.S. will work with China."
Al Arabiya
10-04-2025
- Business
- Al Arabiya
China to ‘moderately reduce' number of US film imports amid tariffs standoff
China's Film Administration said on Thursday it would 'moderately reduce' the number of US films it imported into the country, as a standoff between the world's two largest economies escalates. 'The wrong action of the US government's indiscriminate tariffs on China is bound to further reduce the favorable impression of domestic audiences on American films... We will follow the law of the market, respect the choice of the audience, and moderately reduce the number of US films imported,' a statement from the film administration said.
