‍By 2020 China is expected to have more than 60,000 cinema screens throughout the country, according to figures from the State Administration of Press, Publication, Radio, Film, and Television (SAPPRFT) released on Sunday.

China overtook the United States in June as the country with the most cinema screens in the world, when Chinese authorities revealed that the number had surpassed 45,000 screens.

China is now home to 49,000 movie screens, solidifying its place as the global leader in movie theaters.

With this massive influx of screens across the nation, China’s box office figures are surging so much that Hollywood is taking notice and trying to ensure they find the keys to box office success there.

"Studio executives have to recognize they cannot just add a (Chinese) character to a film and think it will work in China," said Dominic Ng, Chairman and CEO of East West Bank, a major player in most of the China-Hollywood transactions over the past five years. 

He told CGTN Digital that even with the limiting of Chinese investment in overseas entertainment, there are still ways for Hollywood and other entertainment sectors to do business with China.   

"Serving the growth in Chinese entertainment demand with a supply of high-quality US content and experience is a no-brainer for any Chinese investor."

In August the State Council announced plans to limit domestic companies’ investment abroad in entertainment, sports, property and other fields, following a string of multibillion-dollar acquisitions, citing concerns that companies involved may be taking on too much debt.

This brought investments to a screeching halt. But Ng said that does not have to be the case for Hollywood studios.

"While China has become more careful about capital outflows, it is more eager than ever to attract foreign investment," he told CGTN Digital. "Several US entertainment companies have shown that local operations in China can pay off if done smartly."

But Ng said the best way to capitalize on Chinese consumers is to understand what they want.

"There are hundreds of millions of smartphone-connected eyes in China hungry for US content," he said. "Focusing solely on the silver screen ignores a huge portion of the available Chinese market. Streaming will only increase in importance, and, since Wi-Fi is widely available in Chinese cities, the opportunities for viewing short content are endless, from the subways to driverless cars."

But with China’s new leading role, will films from the world’s largest movie market begin to travel abroad?

Just as Hollywood needs to better understand the Chinese market, China has to now use its role as a key player to help its movies find success abroad.

Actor Jackie Chan said China’s film ambitions abroad will challenge Chinese filmmakers to produce better work. "Their technology is more advanced than ours, but on the other hand, we will have more opportunities to watch their films and learn from them," he said.  "We are concerned – very afraid – but I believe that this kind of pressure is a positive thing...the more films that come in, the more we will ourselves improve."