A year of partnership between China and Hollywood

Tom Cruise brought his futuristic sci-fi "Oblivion" on his first visit to Beijing, and even made his long wish come true by scaling the Great Wall of China.

Chinese actress Fan Bingbing in a scene in "Iron Man 3"

Chinese director Feng Xiaogang affirmed that presence by becoming the first Chinese mainlander to leave his mark on the Hollywood Walk of Fame.

2014 will be the 35th anniversary of diplomatic ties between the People's Republic of China and the United States. The US has become China's biggest export market, and China is now the third biggest importer of American goods. And nowhere else can this blossoming of trade between be better seen than in showbiz, with the 2013 Chinese box office estimated to be well worth of 3.5 billion dollars. 

Hollywood came to China by the dozens, from studio executives to stars like Nicole Kidman, Catherine Zeta-Jones, and Leonardo DiCaprio, with hopes of drumming up business between the East and West.

"I hope my friends will make more movies here. And it will be a wonderful future."

Tom Cruise brought his futuristic sci-fi "Oblivion" on his first visit to Beijing, and even made his long wish come true by scaling the Great Wall of China.

"I'm very excited to be here. I kept on saying 'I wanted to go to China, I wanted to go to the Great Wall.'"

Baz Luhrman, who got his inspiration for The Great Gatsby on a Tran-Siberian Express from China to Moscow, returned to China with the extravagant 3D remake of the American classic.

"I've always been interested in China. I want to make a Chinese movie, but I have to find the right Chinese actor."

Keanu Reeves had no problem finding a Chinese actor. In fact, he spent so much time immersed in Chinese culture that he even got a Chinese nickname.

"I do. I love it. I think to come to a place to meet people, to have an exchange where they can give you something so familiar."

And China also showed its appreciation and veneration for the Hollywood stars. This year's Huading Awards gave out a plethora of prizes to Hollywood greats like Quentin Tarantino, who received the best global director in motion pictures award.

"I've been a fan of Asian Cinema my whole life growing up. My movie 'Kill Bill' is a tribute to it."

And Nicolas Cage took home the "Best global actor in motion pictures" trophy.

"Making a movie in China, I'm buzzing with good energy, I feel great here. "

Hollywood might have had its share of glitz and glamor on the Chinese red carpet, but Chinese actors also had their share of the spotlight on the international silver screen.

China also went to Hollywood. Notable Chinese stars appeared in a brief sequence in "Iron Man 3," the highest grossing film at the Chinese box office this year.

"One of the stars, Fan Bingbing, the 'It' girl of Chinese cinema, appears only in the Chinese version, which caused a polarized reaction in China. Some people take it as a sign that Hollywood is trying to cut into China, trying to win the market by putting Chinese faces in the movie. And some were offended because Fan Bingbing didn't appear in the American version of the movie." said Raymond Zhou, Film Critic.

On the other hand, Chinese actress Fan Bingbing will not only have a lead role in the fourth instalment of Michael Bay's Transformers franchise, the movie will also be extensively shot at various locales in China.

And in 'Gravity,' a Chinese presence reaches outer space. Those who haven't seen the film, you might not want to listen to the next 15 seconds.

"Gravity is not a Chinese production, and does not involved Chinese talents but it has a very important detail in the plot. Sandra Bullock, the protagonist, as a last resort, used a Chinese module to fly home safely back to earth. And that touch was noticed by a large part of the Chinese population. And of course, people interpreted it differently, but largely as China is standing up in technology, and also in presence on the world screen." said Raymond Zhou, Film Critic.

Chinese director Feng Xiaogang affirmed that presence by becoming the first Chinese mainlander to leave his mark on the Hollywood Walk of Fame.

But China has made more than just an impression in the US in 2013. The Chinese electronics company TCL purchased the naming rights to the historic Chinese theater in January 2013, and also partnered with IMAX to create the single largest auditorium in the world.

"It's ironic that the iconic Chinese theater is now branded as the Chinese theater. It's one of the most famous movie palaces in the world. And we finish the renovations in September, it will be the largest IMAX theater in the world." said Donald Kushner, Owner, TCL Theater.

Ratcheting up the competition, the Dalian Wanda group, which bought AMC Entertainment in 2012, also signed a deal with IMAX to build 80 giant-format theaters in China, which would make China its biggest market in the world.

The company also donated 2.6 billion dollars to the Academy of Motion Picture Arts and Sciences for a new film museum to be opened in 2017, riding on the Hollywood bandwagon to become a global player.

"Our investment will mainly go to the cultural sector. Wanda is expected to be one of the top ten cultural companies in the world in 2020." said Wang Jianlin, Chairman, Dalian Wanda Group.

So, what advice is there for such a rapidly expanding international company? from someone who's seen it play out time and time again?

"Do it in a business way. Understand the culture from whom you're buying from or buying into. And allow the creativity of those people to continue to flourish." said Sid Ganis, Former President, Academy of Motion Picture Arts & Sciences.

Oriental Dream Works, the Chinese American film production company formed in 2012, responsible for the production of Chinese themed animations, released "the Croods" in China this year. It became the first company in more than 20 years to obtain a distribution license in China on behalf of Hollywood to import Western films. China and Hollywood were once situated at polar extremes. But the two giants will now be standing shoulder to shoulder, come rain or shine.