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China’s richest man signs historic US movie deal

Written by Ben Blaschke

China’s richest Man, Jack Ma, has secured a deal with legendary film director Steven Spielberg to produce multiple films for China.

Ma’s Alibaba Pictures Group has agreed to buy a stake in Spielberg’s production outfit Amblin Partners, with the goal being to produce between six and nine movies a year for the rapidly growing Chinese market.

“Among Chinese consumers there is an increasing demand for premium global content,” said Ma. “This collaboration can serve as a cultural bridge and have a positive impact on the next generation of Chinese consumers.”

China’s box office takings grew by a whopping 49 percent in 2015 to US$6.8 billion, making it the second biggest market in the world behind the US which took in US$11.1 billion last year.

“There’s a lot in China that is becoming more and more known,” said Spielberg, adding that he wants to, “bring more of China to America and more of America to China.”