Investing.com--Mission: Impossible - The Final Reckoning – the latest entry in the long-running franchise produced by Paramount Global (NASDAQ:PARAA)– has landed a China release, Bloomberg reported on Friday.
The movie will release on May 30 in China, just a week after its North American release, the Bloomberg report said, citing people familiar with the matter.
The move follows several other major upcoming Hollywood releases gaining permission to release in Chinese theaters, such as Walt Disney ’s (NYSE:DIS) Lilo & Stitch live action remake, and Comcast Corp’s (NASDAQ:CMCSA) How To Train Your Dragon live action remake.
The latest Mission: Impossible movie is among the most expensive movies ever made, with an estimated budget of between $300 million and $400 million. Its predecessor– Mission: Impossible- Dead Reckoning– was considered as a box office disappointment.
Paramount is currently navigating a long-awaited merger with Skydance Entertainment. The studio is also facing a multi-billion dollar lawsuit from President Donald Trump against CBS News’ 60 Minutes program.
Hollywood’s push back into China comes amid a deescalation in trade tensions between Washington and Beijing earlier this week, as the two agreed to severely lower tariffs against each other. Movies, however, were not covered by the tariffs, which were only limited to physical goods.
China had signaled in April that it would reduce the number of U.S. films in the country, in response to President Trump’s tariffs.
China represents a massive market of moviegoers, and has long been courted by major movie studios for its box office potential. Disney’s Avengers: Endgame is currently the highest-grossing English movie in the country.