The relationship between China and Hollywood has become inextricably linked. Interest from investors, studios, talent and -- most importantly -- movie-goers has grown rapidly. The link is only a few decades old, but the world's two biggest entertainment markets already have had their share of ups and downs. CGTN's May Lee takes a closer look.

After decades of cultural isolation, China began slowly but cautiously opening up to the global entertainment industry in the 1980s and Hollywood immediately came knocking. Producer Janet Yang experienced the initial wave of interest first hand.

JANET YANG PRODUCER "Back in the 80s after the normalization of relations between the U.S. and China, I was there in Shanghai with Steven Spielberg making Empire of the Sun, Bertolucci was in Beijing making Last Emperor. These are two obviously very fine filmmakers making very very fine films. So there was a feeling that this was the beginning of a whole new era."

But the burgeoning relationship wasn't just about production access. Hollywood wanted to showcase its films in China and get a cut of the revenue. In 1994, China allowed 10 imported films a year. The very first was "The Fugitive" starring Harrison Ford. The movie was a bonafide success grossing three million dollars. But in the late 1990s, a freeze in relations after Hollywood produced a few films that Beijing considered to be anti-China. Although the controversial movies were never shown in China, the punishment was severe. Hollywood was banned.

STANLEY ROSEN PROFESSOR OF POLITICAL SCIENCE, USC "At the time, the Chinese market was no bigger than Peru in terms of the market, but it was very clear that China could exercise control. Disney hired Henry Kissinger to solve their problems and eventually the ban was lifted."

The relationship between China and Hollywood was revived and began to thrive. The foreign film quota rose to 20 after China joined the World Trade Organization in 2001. Then to 34 in 2012. And then Chinese money started pouring into Hollywood.

JANET YANG PRODUCER "A lot of the fever about China was based on the fact that China had money. So every Tom, Dick and Harry came out of the woodwork here to look for money there and every Tom Dick and Harry in China, by the way was putting money into projects so, there were so many random connections being made."

The combination of hasty deals in Hollywood and new restrictions on the outflow of money from China led to a big slow down in Hollywood investments by Chinese investors including Alibaba and Wang Jianlin's Wanda Group. But that hasn't cooled Hollywood's enthusiasm for the Chinese market. Filmmakers and writers Bruce Cameron and Cathryn Michon's adventure film "A Dog's Way Home" just debuted in China. Expectations are high following the success of their 2017 movie "A Dog's Purpose", which grossed nearly $90 million in China alone.

W. BRUCE CAMERON AUTHOR, PRODUCER, SCREENWRITER "We have a partnership with Alibaba and they did a magnificent job marketing the movie, and getting the movie out there so people were aware of it. Something like this it's all about awareness. People have to know the thing exists to buy it, to go to see it."

CATHRYN MICHON PRODUCER & SCREENWRITER "On a Dog's Way Home we are partnered with Bona and we are partnered with Alibaba again on A Dog's Journey so for us it's like expanding."

MAY LEE LOS ANGELES "Although the relationship between Hollywood and China is still healthy, there are a few potential bumps in the road ahead. One is the renegotiations on the foreign film quota, which stalled last year. And then there's the U.S.-China trade war, which is the bigger unknown. How this tension will impact the entertainment world is a question mark at this point. May Lee, CGTN, Hollywood."