Just one day after DreamWorks announced the layoff of 500 employees, media reports confirm that the Chinese government has granted co-production status to Kung Fu Panda 3.

Dreamworks Animation, its China unit Oriental Dreamworks and their Chinese partners China Media Capital, Shanghai Media Group and Shanghai Alliance, filed and received co-production status for Kung Fu Panda 3 on January 15, according to China’s State General Administration of Press, Publication, Radio, Film and Television (SAPPRFT).

While it was already well established that Kung Fu Panda would be produced with the help of Chinese investors and some of the production would be done in China, it was not clear until now whether the film would receive co-production status. The status is coveted by American studios because it means the film will be treated as a domestic product in China, bypassing the blackout regulations and import quotas for foreign films. DreamWorks and its partners will also receive a larger share (43%) of Chinese box office receipts.

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Amid Amidi

Amid Amidi

Amid Amidi is Publisher and Editor-in-Chief of Cartoon Brew.

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