Film experts say the Australian casino tycoon James Packer's gamble on the movie industry in China will probably be a good investment.
It's been revealed Mr Packer has struck a deal to invest more than 400 million dollars to produce 75 films with Warner Brothers over four years.
He's hoping rising box office revenues in China will make his move into the film industry a lucrative gamble.
Professor Michael Keane, an expert on Chinese film at the Queensland University of Technology, says that James Packer understands China and the regulations regarding making films there.
"If you want to make films for the Chinese audiences, it's a little bit different to making films for a global audience. You may make a different version for China and a different version for the rest of the world. And that's the problem. You won't finish up making really interesting critical films, you'll make more blockbusters and animations and things like that", he said.
But Hollywood blockbusters have proven to be increasingly lucrative in China.
Figures from the Motion Picture Association of America show the value of the Chinese movie market rose by 36 per cent last year, and is worth close to 3-billion US dollars.
A domestic film currently holds top spot in this year's Chinese box office rankings but Hollywood films take up two of the next three spots.
Restrictions on the number of American films that can be released and heavy handed censorship have prompted many Hollywood studios to enter co-productions with Chinese film companies to ensure access to the market.
But Michael Keane says studios are still very restricted in what types of movies they can make.
"You can make co-productions with Chinese filmmakers, and there's a lot of money sloshing around China. But you can't make the kind of deep critical films that typify Hollywood and the best types of films elsewhere," he says.
In the last fortnight China's richest man Wang Jianlin launched an 8-billion dollar Oriental Movie Metropolis in the north-eastern city of Qingdao, the plans for which include 20 film studios.
Mr Wang's Wanda group already owns a major American cinema chain. He says China will become the future centre of the global movie industry.
But Professor Keane says Mr Wang's high profile project isn't the first of its kind in China.
"You've got DreamWorks in Shanghai already setting up, you've got the Hengdian World Studios in Zhejiang which is a massive, massive place. And you've got Wuxi which is called 'digital Hollywood'. You've got places in Bejing that do it," he said.
Mr Keane thinks that it will be a while before the wider world is watching Chinese films the way people in China watch Hollywood films.
He thinks it will take time for people to understand Chinese culture and film.
"Everyone in the world understands what a Hollywood film, which is transparent. Everyone in the world understands what Hollywood is, so Hollywood can travel anywhere, but Chinese film has a great deal of difficulty getting out of it's own container'" he said.