China, US to announce film making cooperation

China's leader in waiting, vice president Xi Jinping is set to announce a landmark film deal when he heads to Los Angeles on the final leg of his US visit.

Under the planned deal, DreamWorks Animation - famous for film Shrek - and Shanghai Media Group, plus China Media Capital, will build a film studio in Shanghai and, in the longer term, boost Chinese investment in Hollywood.

The deal will give DreamWorks greater access to the fast growing Chinese market and bring US expertise to China's industry.

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