Russia’s largest film distributor is discussing the possibility of selling films to China in roubles and renminbi

Source: The PaperRussia’s largest film distribution company is discussing to export films to China in ruble and renminbi settlement of the paper news reporter Nanbo on April 7, Russian media reported that,Central Partnership, Russia’s largest domestic film distributor, is discussing terms with foreign partners for new contracts to be settled in rubles and yuan.According to Russia’s Sputnik news agency on April 7, citing Russia’s Izvestia newspaper, The general manager of The Russian Central Partners Film Company, Vajm Vyleshagin, said that due to western sanctions, it is impossible to use the euro and dollar settlement, the use of other currencies is the last resort.He noted that Russian film exports to China would be settled in rubles and renminbi.China is the top-grossing foreign market for Russian films, according to Russian film Distribution Bulletin.In 2021, The Chinese market accounted for about 40 percent of the total overseas box office, reaching $18.2 million (116 million yuan).In the five years before the outbreak, The overseas box office of Russian films increased 2.5 times, making China the largest overseas market for Russian films, previously reported.In 2019, a total of 94 Russian films were screened overseas, far outpacing Mexico and South Korea, which ranked second and third in the Chinese market.In China, films such as “Munich”, “Stalingrad” and “T34” have been widely acclaimed.

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