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Paramount is owned by Viacom and will get access to the Chinese market with this deal.

China Gives $1 Billion Funding to Paramount Pictures

S. Rina   | Jan 23, 2017 10:32 AM EST

China continues its push to capture Hollywood with a new $1 billion deal with Paramount Pictures. Two Chinese firms Huahua Media and Shanghai Film Group have agreed to finance nearly a quarter of Paramount films over the next three years.

Paramount Pictures teamed up with China’s Huahua Media and Shanghai Film Group for its upcoming film Jack Reacher: Never Go Back starring Tom Cruise.

Tom Cruise's 'Jack Reacher: Never Go Back' Teams Up with Chinese Investors

Charissa Echavez   | Oct 02, 2016 11:59 PM EDT

Paramount Pictures revealed it has teamed up with China's Huahua Media and Shanghai Film Group for its upcoming Tom Cruise starrer film Jack Reacher: Never Go Back.

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