February 20, 2012
By Melody Uy
Moreover, censorship rejection cannot be enforced as a material breach of the Agreement. Instead, the licensor and China’s State-Owned Enterprises will now work together to find a solution when these situations arise.
China has also agreed to affirm that no law or regulations can prevent other Chinese enterprises from actively engaging in the distribution of imported films. In fact, the Chinese government will now promote the entrance of other distributors into the marketplace.
“For Independents, this agreement is momentous,” said IFTA President-CEO Jean Prewitt. “Our sector has been unable to benefit fully from the existing revenue-sharing importation quotas and has had limited avenues through which to distribute. For the first time, through this Agreement, there is a promise of creating a commercial foundation that will allow independent producers to participate more fully in the Chinese marketplace.”