Because of the good box-office performance of two movies co-produced by China and India in the Lunar New Year holiday, Beijing increased by two films per year the number of Indian movies that could exhibit in China.
Following the good showing of “Kung Fu Yoga” and “Buddies in India,” the annual quota of Indian films that could be exhibited in China yearly is up to four from the current two movies. China has a cap of 34 movie imports a year.
Co-Productions Between India & China
The two films were the result of a film co-production agreement between the two Asian giants inked in September 2014. “Kung Fu Yoga,” which stars Jackie Chan, has grossed 390 million yuan ($56.7 million) as of Monday, while “Buddies in India,” which stars Wang Baoqiang, grossed 382 million ($55.5 million), EntGroup reported.
Although by population, India and China are the only countries in the world with more than 1 billion population, China, because of the rapid economic growth, is not the second-largest movie market in the world, while India is only the sixth even if it has a thriving film industry, Bollywood. Being able to export more Bollywood films to China could benefit India.
Flexible Film Import Quota
But in 2016, Chinese officials who manage film imports allowed up to 40 foreign movies because of weak box-office returns. But of the six extra films allowed to show in China, only “Hackshaw Ridge” performed well in the box office. With that precedent and the addition of two more allocations to India, it only indicate the quota could be adjusted when needed.
However, Forbes reported that “Kung Fu Yoga” failed to impress Indian audience where the film performed only average. The movie, which also features Indian actors, earned only 40 million rupees ($595,000) on its first day of exhibition. It was released on Feb. 3, one week after its China premiere, with the movie in English, Hindi, Tamil and Telugu language. In one cinema in Mumbia, there were only 14 moviegoers when “Kung Fu Yoga” on its first show.