Chinese conglomerate Fosun International signed a deal on June 6 to purchase Studio 8 in Hollywood. The deal is the latest example of Chinese investors' interest in the US film industry. The Chinese government plans to use tax breaks and subsidies to boost the motion-picture industry, and will use 100 million yuan ($16 million) to support five to 10 films a year. Fosun hopes Hollywood's advanced and sophisticated film making expertise and technique, movie concept and technology and complete production and publication systems into the China market, in order to drive the development of the Chinese film industry.