The number of Chinese dramas on the streaming services has been on a downward trajectory since late 2018, when the number of available shows fell to around 30% of the available shows.
The Chinese government has been targeting the domestic market with a push to diversify its cultural offerings.
The latest government initiative to diversification is the National People’s Congress (NPC) 2020-2022 cultural development plan, which calls for the construction of the National Culture Centre in Zhuhai.
The CPC-2023 cultural development strategy also includes the development of a national film and television program, including the launch of the China Film Academy and the National Movie Stars Academy.
As part of the NPC-2021 cultural development initiative, the state-owned China Film Corporation (CFC) is slated to invest nearly 1 billion yuan ($16.8 million) to build a film academy in Beijing and hire 30,000 local talent to help with the development and distribution of films.
The NPC also announced plans to create two new film studios to expand the domestic production base of films, with a total investment of 10 billion yuan, and to create three more film studios.
In addition, the CPC-2020 cultural development budget also includes funding for more than 50 projects, including film production, marketing, marketing campaigns, digital distribution and other business-related projects.
While China Film has made efforts to diversified its offerings in the past, it has failed to make significant progress in this regard.
The country’s film industry is currently estimated to be worth about US$2.4 billion, according to the Beijing Film Industry Association.
However, as the China Cinema Corporation has expanded into a more mainstream moviegoing market with the launch in 2016 of the Shanghai Film Market, the Chinese film industry has made significant progress, with the country having surpassed US$1.4 trillion in revenue.
The Shanghai Film market, in turn, has become the major driver of the Chinese movie market, according a report by research firm CB Insights in December 2017.
China’s film revenues grew 8% from the previous year to $3.3 billion.
However, the number and size of films produced was down from previous years, according the report.
China is also the world’s largest film market with more than 1.1 billion films sold in 2018, according CB Insight.