The Chinese economy is struggling, plagued by slowing growth and uncertainty in the stock markets. But there is one industry that is not suffering: the movie business. For China and its 1.3 billion people, going to the movies has become a national pastime, and China is expected to become the biggest movie market in the world in the next two years. Well, unsurprisingly, Hollywood has taken notice, partnering with Chinese studios and making blockbusters as much for Chinese audience as the American one. But, as Holly Williams first reported last April, the U.S. film industry is also facing competition from a new generation of Chinese moguls and movie stars with big ambitions. Tonight, a journey to a new Hollywood, rising in the East.

 

This text is an abstract from the CBS 60 minutes website.