In spite of the economic slowdown, China's movie market is increasing faster than expected. In fact, experts have revealed that China will surpass the United States as the biggest movie market in the world in terms of both box office revenue and number of screens in 2017.

According to Greg Forster, CEO of IMAX Entertainment, the Chinese market is most often the deciding factor in the success or failure of a number of American films. For instance, determining whether or not to to make a movie worth $200 million likely depends on whether it will hit or get into China or not.

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Last year, China's State Administration of Press, Publication, Radio, Film and Television revealed that China's box office revenue increased by as much as 36 percent, hitting a $4.8 billion mark. The country further added more than 1,015 cinemas and 5,000 screens, making a total of 23,600 screens, compared to the U.S.' 39,600 screens. The latest figures from both movie markets, however, shows the U.S. to be leading over China with a generated revenue of $10.3 billion. However, this is about 5 percent lower than the U.S. movie market made in 2014.

U.S. movie makers are increasingly taking the taste of the Chinese audience into consideration when creating their films. According to Shake and Bake Productions' Lauren Selig, there is a growing number of films particularly created for the Chinese market. 

She further revealed that of the 10 conversations she has had with producers, six of them have demanded for a China project. She pointed out that to create an impact, Hollywood should study what the Chinese audiences wants.

While many North American producers target Chinese moviegoers, Chinese movie producers, on the other hand, are attempting to get the attention of the global market. Zhang Zhao, Le Vision Pictures CEO, said that since the Chinese market is flourishing, people expect more local movies to be a hit in the North American market.

Chinese companies are investing heavily in the North American film industry. Recently, Dalian Wanda inked a deal to buy out major stake of the US movie studio Legendary Entertainment. It also acquired AMC, United States' second largest theater chain, in 2012.

TagsFilm Industry, Chinese movie market, Hollywood Films, box office revenue, Asia