China Media Capital, a state-backed entertainment fund, has formed a joint venture with Warner Bros. to produce local-language firms, according to a report in the Wall Street Journal.
The pact is a "show of faith" in the Chinese economy, which is undergoing a restructuring.
China's government allows only 34 imported films per year on a revenue-sharing basis. That quota runs through 2017.
The WSJ reports Time Warner invested $50M in China Media Capital two years ago, an infusion that led to negotiations that resulted in the joint venture deal.
Traditionally, American studios partner with Chinese companies to produce films on a one-off basis.
DreamWorks Animation is currently working with China Media Capital in Shanghai to develop "Kung Fu Panda 3."
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