President-elect Donald Trump has made China one of his primary punching bags during the 2016 campaign, blasting the country as a currency manipulator and threatening to impose high tariffs. But Thursday, a powerful Chinese executive reminded him how important China is to the U.S. economy — something Hollywood knows better than most.
At a kickoff event in Shenzhen, China for Singles’ Day — the holiday on “lonely” 11/11 that Alibaba has turned into the biggest online shopping day of the year — Alibaba Executive Vice Chairman Joe Tsai was asked for his thoughts on the 45th President of the United States of America.
“China is going to be and already is the source of consumer demand and the source of capital for America,” he said, according to the Wall Street Journal, which was at the event. “So if you’re the American president, you have to pay a lot of attention to that because your job is to create a lot of jobs in American society. And if you don’t have Chinese consumers being engaged and buying American products, and Chinese investors can’t invest in the United States, and create more American jobs, then you’d be in trouble.”
Hillary Clinton superfan Katy Perry, who was supposed to perform at the event, pulled out at the last minute citing a family emergency.
Chinese companies — especially the Dalian Wanda Group — have been scooping up Hollywood assets from Legendary Entertainment to Dick Clark Productions. Most studios now have co-financing arrangements with Chinese partners, and the Chinese audience is a major factor in determining which blockbusters get a green light.
Alibaba has opened an Alibaba Pictures office in Los Angeles and recently took a minority stake in Steven Spielberg’s Amblin Entertainment.
Hollywood's 22 Biggest Box Office Champs in China (Photos)
Chinese moviegoers love to spend their hard-earned yuan on Hollywood blockbusters like "Captain America: Civil War," "Avatar" and "Star Wars: The Force Awakens." Comedies and dramas? Not so much. Read on to see which American hits have raked in the most money (according to BoxOfficeMojo) in that nation across the Pacific.
Disney/Marvel/Lucasfilm/Fox
"Furious 7" (2015)
$390.9 million
The Vin Diesel and Dwayne Johnson revved-up action flick is easily the highest-grossing Hollywood movie ever in China. The late Paul Walker remains among China's most beloved American actors.
Universal
"Transformers: Age of Extinction" (2014)
$320 million
Mark Wahlberg starred in the sci-fi movie based on the foldable toys, which was co-produced by two Chinese firms and was the first Hollywood movie to make more than $300 million in the Middle Kingdom.
Paramount
"Avengers: Age of Ultron" (2015)
$240.1 million
The superhero mashup is China's highest-grossing Marvel Cinematic Universe film, a franchise that's been embraced by the country's young-leaning moviegoers.
Marvel
"Zootopia" (2016)
$235.6 million
The buddy-cop comedy is the highest-grossing imported animated film in the history of the Chinese box office, and it played especially well in China's second- and third-tier cities.
Disney
"Jurassic World" (2015)
$228.7 million
Like "Furious 7," the dinosaur sci-fi adventure was produced by Legendary Entertainment, which was acquired by China's Dalian Wanda Group in January.
Universal
"Warcraft" (2016)
$220.8 million
Another Legendary film, this one inspired by a video game series, flopped in the U.S. but dominated the Chinese market, which is home to about half of the video game's players worldwide.
Universal
"Avatar" (2009)
$204.1 million
The worldwide smash hit also captivated Chinese audiences, even back in 2009, when the country's box office was a fraction of the size that it is today.
The prequel to this film, 2009's "Transformers: Revenge of the Fallen," made $65.8 million in China, setting the stage for "Dark of the Moon" to be the country's highest-grossing Hollywood film since "Avatar" at the time.
Paramount
"Kung Fu Panda 3" (2016)
$154.3 million
The Mandarin-language version of the movie starring Jack Black as a friendly fighting bear had the characters reanimated so their mouths moved naturally with the translated words.
DreamWorks
"The Jungle Book" (2016)
$150.1 million
The live-action/animation hybrid was a hit in several international markets, especially India, and it also played well throughout China.
Disney
"Mission: Impossible - Rogue Nation" (2015)
$135.7 million
China's Alibaba Pictures invested in "Rogue Nation," and star Tom Cruise visited several Chinese cities to promote the film, helping it open strong and stick around in theaters even though its China debut came more than a month after its U.S. premiere.
Paramount
"Star Wars: The Force Awakens" (2016)
$124.2 million
Despite China being one of the few markets that didn't catch "Star Wars" fever -- the movie put some people there to sleep -- Disney's promotional efforts helped it clear $100 million.
Lucasfilm
"Interstellar" (2014)
$122 million
The epic space adventure starring Matthew McConaughey, Anne Hathaway and Jessica Chastain connected with Chinese audiences, even though it wasn't in the 3D format that crowds there have grown used to.
Paramount
"The Hobbit: The Battle of the Five Armies" (2014)
$121.7 million
The third and final installment in Peter Jackson's "Hobbit" series was another movie that succeeded even though it was released in China well after its U.S. premiere.
Warner Bros.
"Iron Man 3" (2013)
$121.2 million
All three movies in the Robert Downey Jr. franchise have played in China, helping build brand awareness beyond just the bankable Marvel name.
Marvel
"X-Men: Apocalypse" (2016)
$12o.8 million
Disney bought Marvel Entertainment in 2009, but Fox acquired the film rights to Marvel's "X-Men" franchise before then. It doesn't seem to matter much in China, where anything Marvel often turns into a big hit.
Fox
"Captain America: The Winter Soldier" (2014)
$115.6 million
The predecessor to this year's "Civil War," "Winter Soldier" was a hit despite its fairly political content, which is usually a negative in Chinese theaters.
Marvel
"Terminator Genisys" (2015)
$113.2 million
The fifth "Terminator" film was the franchise's lowest-grossing since the 1984 original, but it was the first in the series to get a Chinese theatrical release.
Paramount
"Pacific Rim" (2013)
$111.9 million
The futuristic sci-fi adventure, in which humans battle sea monsters, is yet another fantasy action movie that Chinese audiences loved.
Warner Bros.
"Ant-Man" (2015)
$105.4 million
Yet another Marvel Cinematic Universe movie, "Ant-Man" made just $180.2 million at the domestic box office but was a much bigger hit in China.
Marvel
"San Andreas" (2015)
$103.2 million
China knows Dwayne Johnson from the "Fast and Furious" franchise, and the earthquake disaster film he headlined last year reverberated at the Chinese box office.
Warner Bros.
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Chinese moviegoers can’t get enough of America’s big-budget action flicks
Chinese moviegoers love to spend their hard-earned yuan on Hollywood blockbusters like "Captain America: Civil War," "Avatar" and "Star Wars: The Force Awakens." Comedies and dramas? Not so much. Read on to see which American hits have raked in the most money (according to BoxOfficeMojo) in that nation across the Pacific.