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China's box office to top world in 2017: report

Xinhua, June 12, 2016 Adjust font size:

China's box office is anticipated to surpass the United States in 2017 and claim the title of the world's largest, according to a report by international accounting firm PwC on Sunday.

The report forecasts that China's box office revenue will hit 10.3 billion U.S. dollars next year, while the United States is expected to ring up 10.14 billion U.S. dollars.

With a compounded average annual growth of 19.1 percent, China's box office takings are expected to hit 15.08 billion U.S. dollars by 2020, the report said.

The report estimates a whopping 49.3 billion U.S. dollars of box office earnings across the globe in 2020, with nearly one third of it to be generated in China.

Jiang Xiaoping, a PwC China partner, said the robust expansion of China's film industry is driving the global development.

According to predictions, revenue from advertising in the Chinese film industry will exceed 161 million U.S. dollars by 2020, and the average ticket price will climb to 6.04 dollars from 5.44 dollars currently. Endi