Theatre and multiplex operator Pyramid Saimira Theatre Ltd has signed a memorandum of cultural cooperation with China's ministry of culture through its cultural arm, the China Society of Music Research Board (CSMRB), to promote art and culture.
Pyramid Saimira has also signed a joint venture agreement with the Longzhe Group to float an entertainment joint venture, Jiangsu Pyramid Longzhe Group to bring cultural specialist in the field of arts, film, TV, music and dance, operate theatres and distribute films in China.
China regulates the entry of foreign arts and films.
As part of cultural co relation agreement CSMRB and Pyramid Saimira presented a cultural exchange event between the two countries in Nanjing and Beijing.
"China has great entertainment potential given the growing affordability of the entire population and the willingness of new generation to avail multi faceted entertainment product and services,''said P S Saminathan, managing director, Pyramid Saimira Group.
''We will create a huge theatre chain network, food courts, gaming parlours and offer other entertainment services. We will also bring international content to china and will also showcase and market local Chinese content across the world. This entry will strengthen the growing exhibition and content business of our group and will in a very short time make us the largest exhibitor in the world."