Over the weekend, China’s Vice-President Xi Jinping and his American counterpart, Joe Biden, agreed on a deal that allows an additional 14 foreign-made movies into China every year. While that’s a 70 percent increase from the current quota of 20 films, it won’t likely make much difference to Hollywood’s bottom line. The Weinsteins alone released 15 movies last year, according to industry website The Numbers, and the Big Six studios had a total of 146.
Moreover, the increase comes with a catch: To qualify for the new list, the movies have to be in 3D or Imax’s widescreen technology. That restriction, of course, rules out the vast majority of what Hollywood produces each year.