Culture and entertainment industry expected to surge, says Deloitte report

China's culture and entertainment industry is predicted to grow at 20 percent, and could be worth 5.5 trillion yuan ($887 billion) within the next seven years, a study by business consultancy giant Deloitte has predicted.

William Chou, Deloitte's national managing partner for the technology, media and telecom industries, said the film industry in particular is set to experience unprecedented growth, after generating 17.1 billion yuan in box office earnings in 2012, a 30 percent increase from 2011.

As earnings continue to grow, Chou said Deloitte's China's Culture Industry 2013 predicts earnings from China's film industry are expected to surge to 23 billion yuan this year.