With Chinese Box Office Collections Touching £1.7bn, China confirmed as world's largest film market outside US

Chinese box office now worth £1.7bn, shooting it past Japan and the country is now the biggest movie market for US overseas 

• .China has just overtaken Japan to become the worlds 2nd largest box office market,and now ranks no  when it comes to  US
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• A recent  statistics just released by the Motion Picture Association of America (MPAA), confirm that the country has overtaken Japan to become the world's second-largest box office territory, and the biggest outside the US. 
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•  The MPAA's Market Statistics 2012 show China's cinema audience is worth $2.7bn (£1.7bn), up from $2bn in 2011, taking it past Japan, whose total increased only slightly from $2.3bn to $2.4bn. 
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• .China's box office grossed 16.42 billion yuan ($2.7 billion) in the first nine months of the year, jumping 35% from the same period a year earlier, the official Xinhua news agency said Wednesday.
  
• Meanwhile Hollywood is losing ground in China, at a time when box-office sales there are surging and foreign filmmakers are eager for a bigger share of the world's fastest-growing film market

source : Forbes/ WSJ