Poster of "Warcraft". (Photo/China.org.cn)

The Hollywood film "Warcraft" now is a blockbuster in China. The box office revenues have neared 1 billion yuan in the past five days. The funding for the movie is mainly originated from China. Early this year, China's Wanda Group acquired the production company that produced "Warcraft", Legendary Pictures at a price of 23 billion yuan.

Chinese capital has not only helped China to become the world's second largest film market, it also plays a more and more important role in the global film industry. 

At a forum held during the 19th Shanghai International Film Festival on June 12, Industry giants such as the Bona Film Group, Huayi Brothers, Wanda Theater Group and Alibaba Pictures discussed about the relationship between the film and capital.

Zeng Maojun, president of Wanda Theater Group, said that in 2005, the total number of screens in China was increased by over 8000 and it is expected that by the end of 2016, China will have about 40,000 screens, which is in line with the U.S. Insiders predict that China's box office will surpass north America within three years to become the world's largest film market. 

Capital has played an important role in the development of China's film industry. China's film industry now has a new business model featuring the integration of different media. Zhang Qiang, executive director and CEO of Alibaba Pictures, said that over 90 percent of film tickets are sold online in China. The proportion is far higher than other countries. Yet with the emergence of whole sleuth of new movies all of which have capital behind them.

The industry giants also called on the investors to recognize the long term value of the film industry and for the producers to attach more importance to the quality of films. The win-win situation between film companies and capital companies can only be realized by a mature industry model developed through cooperation and competition.