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The Chinese government is hoping to break into Hollywood, setting up the country's first state-financed film fund to provide a gateway between China and the U.S.
The fund, called China Mainstream Media National Film Capital Hollywood Inc., will have offices in Beijing and Beverly Hills and be led by former China Film Group prexy Yang Buting, according to local media reports.
News comes on the heals of an announcement from another group of Chinese investors, Harvest Alternative Investment Group and Sun Redrock Investment Group, about the formation of a venture to raise $800 million for media investments.
"With a Western movie-making approach and management …