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Disney Studios Eyes Multi-Billion Chinese Market With Latest Deal

Walt Disney Studios is eyeing the multi billion-dollar Chinese market. The studio signed a partnership agreement with Shanghai Media Group Pictures to co-develop movies which "feature authentic Chinese elements." The shrewd move could be seen as a way to bypass strict guidelines for foreign films entering China; currently, the national authorities limit the number of foreign films screened each year to 34. Last year, 'Iron Man 3' was accepted after shooting scenes in Beijing with local actors.