Devoted to show business and the entertainment industry

The Chinese box office is estimated to surpass the American market by 2050, says a report by Irish media consultancy Research & Markets.

The report added that by 2010 the industry will grow to $900 million in China, and will hit $2 billion by 2015.

"U.S. media players, production companies, manufacturers and distributors should all become well aware of the threat of China and its neighbors, which will soon combine to overshadow Hollywood," the report said. "As the Asian powerhouse economies of China, India, South Korea and Japan continue to post spectacular gains, the financial strength of these growing markets will eventually result in an Asia that is capable of sustaining itself with regional profits alone."

The major factors contributing to the growth are fast economic growth, personal financial growth, and the resultant spending on entertainment.