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Chinese overseas investments in sports & entertainment surge 188% in 2016

2017-March-13       Source: CRIenglish.com

China's volume of international trade in cultural products and services reached 88.52 billion US dollars last year, achieving a surplus of 68.8 billion US dollars, new Ministry of Commerce statistics show.

 Dalian Wanda Group's signing ceremony with U.S. film studio Legendary Entertainment in Beijing on January 12, 2016. [Photo: sohu.com]

China's volume of international trade in cultural products and services reached 88.52 billion US dollars last year, achieving a surplus of 68.8 billion US dollars, new Ministry of Commerce statistics show.

The amount of exports in entertainment and advertising services was 5.43 billion US dollars in 2016, with a year-on-year growth of 31.8 percent, according to the statistics.

The Legend of Zhen Huan, one of the most popular Chinese TV dramas overseas. [File photo: big5.china.com.cn]

The volume of China's outward foreign direct investments in sports and entertainment industry reached 3.92 billion US dollars, with a staggering year-on-year growth of 188.3 percent, the statistics reveal.

Dalian Wanda Group, China's largest commercial property company, bought U.S. film studio Legendary Entertainment for about 3.5 billion US dollars in January last year.

Scarlet Heart, one of the most popular Chinese TV dramas overseas. [File photo: tesoon.com]

More and more Chinese TV dramas and novels are being translated into other languages and have been gaining popularity outside China in recent years, according to media reports.

Wuxiaworld.com, which claims to be the world's largest Chinese-to-English novel translation platform, says it is ranked as one of the top 2,000 websites in America, and has millions of page views every day.

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Editor: Monica Liu

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