DreamWorks China venture to produce first animation film

    SHANGHAI: A joint venture between DreamWorks Animation, producer of Hollywood blockbusters such as "Kung Fu Panda", and its Chinese partners is scheduled to release its first animated film in 2016, the head of the US studio said Tuesday.

    Ultimately, Oriental DreamWorks will become a landmark entertainment center in Shanghai, just like Broadway in New York and Hollywood in Los Angeles, said Jeffrey Katzenberg, CEO of DreamWorks Animation (DWA), who began a two-day inspection tour of the Shanghai-based joint venture Monday.

    Katzenberg said there are seven animation proposals competing for Oriental DreamWorks’ maiden production, Xinhua reported.

    He said the joint venture, promoted as a Chinese family entertainment brand, will closely link elements of Chinese history, culture and literature in its various productions.

    For 2012, work will focus on assembling talents into a competent team, Katzenberg said, adding that a studio will be set up with leading DreamWorks expertise, especially on three-dimensional (3D) technologies.

    The joint venture was first announced in February during Chinese Vice President Xi Jinping’s visit to the US.

    DreamWorks has most recently taken the spotlight with "Kung Fu Panda" and "Kung Fu Panda 2". Both achieved impressive box office success in the Chinese market, with the latter reaching ticket sales of 470 million yuan ($75.2 million).