China Film Co, a state-owned film distributor, is investing millions of dollars in two Hollywood films as part of its first foray in Hollywood, state media reported.

The actual figure of the investment has not been disclosed. Sources said China Film is making an equity investment, within the range of millions of dollars, in Legendary Entertainment Productions of Hollywood. China Film is investing in the films "Seventh Son" and "Warcraft", both to be produced by Legendary.

Like Us on Facebook

The "Seventh Son" is expected to be released on February 6, 2015, while "Warcraft", which is expected to be a box-office hit due to the popularity of the online game bearing the same title, will be released on March 11, 2016.

Legendary's top grossing films include "The Dark Night", the sci-fi film "Pacific Rim", and the "Hangover" trilogy.

If the two movies are approved for screening in China, the Chinese unit of Legendary Entertainment said China Film will act as its exclusive distributor, and will receive credit on the two movies.

China Film's investment in the two films comes at a time that the company plans to go public in order to further expand its reach. The company owns stakes in different movie theater chains in China.

Earlier, the State Administration of Press, Publication, Radio, Film and Television said it is considering the move to raise the number of Hollywood movies that will be allowed in China this year from 34 to 44.

The announcement came after Hollywood movie producers appealed to the Chinese government to allow more Hollywood movies to be screened in the mainland, which is the world's second-largest movie market next to the United States.

China's box office receipt last year reached 21.8 billion Yuan, or US $3.6 billion while box office receipt in the US surpassed US $10 billion, prompting analysts to believe that it will take years before China can overtake the United States as the world's largest movie market.