Sony Pictures, China in Production Venture

Sony Pictures has set up a joint venture television and film co-production unit in China, taking advantage of a loosening of restrictions on the tightly controlled industry.

The joint venture with Hua Long Film Digital Production Co. of the state-run China Film Group, which holds a majority stake, has full approval from Chinese regulators, Sony Pictures Television International said in a statement.

China’s media watchdog, the State Administration of Radio, Film and Television, and the Ministry of Commerce gave the go-ahead for the joint venture, to be called Huaso Film/Television Digital Production Co., Sony Pictures said.