After lengthy talks, China and the United States on 18 February finally signed a memorandum of understanding (MOU) that resolves a five-year WTO dispute regarding film imports and provides limited further access to the mainland market for US films.
According to the MOU, China will allow the import of a further 14 “enhanced format” (such as 3D or IMAX) films per year from the US, in addition to the 20 films under its existing WTO commitment. The revenue share of US enterprises will be increased to 25% of gross box-office receipts per film from the current 13%.
In what it describes as “tug-of-war” negotiations, Jingcheng Tongda and Neal advised the government of China during the whole case. Its team was led by Stephen Peng.
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