"Iron Man 3" to be co-produced with a China partner

(CBS/AP) Disney's next "Iron Man" movie will be co-produced with a Chinese partner in Hollywood's latest effort to forge closer ties with China's fast-growing film industry.

"Iron Man 3," starring Robert Downey Jr., Gwyneth Paltrow and Don Cheadle, will begin filming this year, Walt Disney and its Chinese partner DMG Entertainment said.

Disney also said it's going to "add Chinese elements and a Chinese story into 'Iron Man 3.'"

Foreign film companies are launching ventures with Chinese partners to expand access to China, where box-office receipts are growing rapidly at a time of weak sales in the United States and Europe.

China's ticket sales rose by one-third last year to $2 billion while revenue in North America, though still far larger at $10.2 billion, has fallen for two straight years.

The communist government wants Chinese studios to learn from Hollywood and is trying to attract foreign studios to form ventures by promising more market access and a bigger share of ticket sales.

For the past decade, China's state-run film distributors have allowed in only 20 foreign films per year for national distribution. The foreign share of ticket sales is limited to a range of 13.5 to 17.5 percent.

Last month, the government announced it will allow in an additional 14 foreign films if they are made in 3-D or for the big-screen Imax format.

The "Iron Man" films, based on a Marvel Comics character, feature Robert Downey Jr. as a billionaire weapons-maker who fights villains wearing high-tech armor.

Disney says the first two movies brought in a total of $1.2 billion.