The number of foreign titles screened in Chinese cinemas is limited by the country's import quota system for films. That leaves more and more directors coming from abroad to cooperate with Chinese partners, largely on topics about China.

US director Oliver Stone has been invited to be the art director of "Sun Tzu: The Art of War," and French director Jean-Jacques Annaud has filmmed "Wolf Totem" on the vast plateaus of north China's Inner Mongolia. These films are intended for release both at home and abroad.

There is clearly mutual appetite between the Chinese and US film industries. China Film Co, a state-owned film distributor, is making its first investment in Hollywood movies by taking a stake in two Legendary Entertainment productions. And Dreamworks and Chinese media groups are set to open a joint venture animation studio in Shanghai.

During a panel discussion for the festival, Christopher Dodd, CEO of Paramount Pictures, touted the "tremendous partnership between the China and US film industries that continues to grow and blossom."

CHINESE MOVIES TOO COMMERCIAL?

However, the road to international cooperation in this field is not without obstacles.

Chinese movies have struggled to make an impact when exported. While cinemas across China sold 21.76 billion yuan's worth of tickets in 2013, China-made films took in only 1.41 billion yuan abroad, according to statistics released by State Administration of Press, Publication, Radio, Film and Television.

"The movie market in China is growing, but is glutted with entertainment and commercial elements," said Myul when asked about the reasons for these struggles.