Warner Bros. will start making films in Chinese. The company announced Sunday that it has partnered with China Media Capital, a private equity firm, to make Chinese-language films for a rapidly expanding market. Warner Bros. will own 49 percent of the venture, called Flagship Entertainment Group, and China Media Capital will own the rest.
华纳兄弟公司(Warner Bros.)将开始在中国制作电影。该公司上周日宣布，已经与私募基金公司华人文化产业投资基金(China Media Capital)合作，为一个正在迅速扩大的市场制作华语片。新的合资公司名为"旗舰影业"，华纳兄弟公司将持有其49%的股份，华人文化持有其余部分。
The Chinese movie market is currently second in the world, behind the United States. According to a report this month, Chinese movie theaters had taken in $4.71 billion in ticket sales this year, surpassing the total number from last year.
Flagship Entertainment will be based in Hong Kong, with additional offices in Los Angeles and Beijing, and intends to develop a variety of films for distribution in China and globally. It aims to release its first titles in 2016.
China Media Capital previously partnered with DreamWorks Animation to form Oriental DreamWorks, which is slated to release "Kung Fu Panda 3" next year.
The announcement comes a week before the Chinese president, Xi Jinping, arrives in the United States, making his first state visit.