China-US to make ‘Iron Man 3’ with billion dollar budget

China and the US will jointly produce a third film under the 'Iron Man' series.

China and the US will jointly produce a third film under the ‘Iron Man’ series with a billion dollar budget,the film’s co-producers China’s DMG Entertainment and the Walt Disney Company have said.

Dan Mintz,CEO of DMG Entertainment,announced today that the film will mark the first time for China and Hollywood to co-produce a feature with an investment more than USD one billion.

The “Iron Man” films,starring Robert Downey Jr,have seen great success around the world and both countries hope the film will set new records,Mintz said.

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Han Sanping,chairman of the China Film Group Corp,said cooperation between China and the US will play an important role in the development of the global film industry.

“Iron Man 3 will bring Chinese elements to the international film market and Chinese culture will be better presented to the world,” Xinhua quoted Han as saying.

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Canada, UK and Australia formally recognise a Palestinian state

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