China Film Co., Ltd President La Peikang delivers a speech at the news conference during the ongoing Beijing International Festival in Beijing on March 17, 2016. [Photo: 163.com]

China Film Company has announced cooperation with Paramount Pictures in the US.

The production and distribution deal was announced during the ongoing Beijing International Film Festival.

CFC's Chairman says his side hopes to learn from Paramount, and combine Hollywood's mature business model and technology with Chinese culture, talent and market.

The company also aims to explore new space in project financing and marketing, so as to make quality films catering to the tastes of audiences at home and abroad.

Paramount Pictures is eyeing success while getting its foot in the Chinese mainland film market.

'Transformers: Age of Extinction' pulled in 300 million US dollars on the mainland in 2014.

'Terminator Genisys’ and ‘Mission: Impossible - Rogue Nation' claimed 250 million US dollars in ticket sales in 2015.

The cooperation between China Film and Paramount can be dated back to 1993, when Hollywood films first began appearing in Chinese cinemas.