A poster of Chinese film "Go Away Mr. Tumor"-Chinese candidate for the 88th Academy Award for Best Foreign Language Film. China pledges to reward domestic films for performing well overseas. [Photo: baidu.com]

The Chinese authorities have pledged to reward domestic films for performing well overseas.

Any Chinese producer or agent, authorized to handle overseas business for a domestic film, is to be rewarded if the film's overseas box office reaches at least one million yuan or around 150-thousand U.S. dollars.

The award amount has not been specified as yet, but it's not expected to exceed one percent of the film's international box office.

The move is aimed at encouraging more Chinese movies onto the global stage, and encouraging the production of more high-quality movies.

It's been estimated that China's box office revenues could reach 66 billion yuan in 2016.

China is expected to overtake North America, as the world's largest movie market in 2017.