Expanding cooperation

More Chinese film companies are making further inroads into the international market.

Bona Film Group, another giant film company in China, also announced to team with Studio 9 and Tristar to co-produce Oscar-winning director Ang Lee's upcoming film Billy Lynn's Long Halftime Walk.

LeVision Pictures, the film production branch of video streaming site LeTV, established a $200 million fund as part of a new Los Angeles-based subsidiary in October, 2014.

According to film market analyst Liang Yong, China's outbound capital flow is helping the export of Chinese films.

"To Hollywood, the most valuable asset in China is its film market and capital, especially its production companies. To export Chinese films, we can start by investing capital outbound and cooperate on filming foreign-language films. In order to bring Chinese films onto the bigger stage, we should learn more from filmmakers in Hollywood," said Liang.

For a just-blooming film market like China, there is a long and arduous road ahead.

"We sent our actors out to act in foreign films in the past, but with enough capital, we can join others in actually producing the stories. More collaboration between Chinese film companies with their counterparts abroad means better opportunities to export Chinese films," Liang added.

Chen Shaofeng, vice dean of Institute of Cultural Industries at Peking University, agreed that joining hands with Hollywood may help strengthen influences of Chinese film and Chinese film companies worldwide.

"In particular, in strengthening cooperation with Hollywood, we can draw from their contents and business models to gradually push forward globalization of domestic films," said Chen.