Paramount-Pictures-LogoParamount Pictures and China Film Co Ltd have inked a deal to produce the 3D fastasy/action feature film Marco Polo. It was announced today by China Film Co’s Zhang Qiang and Paramount Vice Chairman Rob Moore at the signing during the Beijing International Film Festival. This is a first-time venture between between CFC and Paramount but the second deal in days for China Film Co and a U.S. studio. On Monday, the Chinese group announced it had made an eight-figure equity investment in two Legendary Entertainment pics: the Jeff Bridges starrer Seventh Son and Warcraft, the pic based on the Blizzard online game that Duncan Jones is writing and directing.

China-And-Hollywood__130605112955-150x150__130925193515__131105220131Paramount and China Film Co said they felt Marco Polo was something that would appeal to both the Chinese and overseas markets. The adaptation will be based on historical context of the famed 13th century explorer but will go beyond the traditional “biographic” type story by positioning it as a fantasy action movie. Shooting is planned to begin in October in conjunction with Yuehua Entertainment, Phoenix Entertainment, and Huahua Film & Media Culture.

Few other details were revealed, but Moore and Zhang said the movie will be directed by an experienced action adventure director from the U.S. and feature a top-tier cast from the U.S. and China. Zhang emphasized the significance of this first-time cooperation between the two companies and hopefully the beginning of a series of future co-production films between China and Hollywood.

Moore said that Paramount has been looking for opportunities to expand its cooperation with the rapidly growing Chinese film industry, and this first time agreement with CFC on co-producing Marco Polo is an exciting venture for the studio. He added Paramount believes Marco Polo will represent the highest production and artistic caliber of the Chinese film industry and will attract the attention of global viewers. Also on hand for the signing were Du Hua, CEO of Yuehua Entertainment, Wang Fengchang, Chairman of Phoenix Entertainment, and Wang Kefei, CEO of Huahua Film & Media Culture.