China Film Co, part of the Chinese state-owned movie conglomerate China Film Group, says it is to cooperate with Paramount Pictures in production and distribution.

The revelation marks not only a growing level of exchange between Hollywood and China, but also growing Chinese connections with Paramount – at a time when Viacom is understood to be evaluating bids for a strategic stake in the film studio. Chinese companies including Wanda are believed to be among the front-runners.

Earlier in the week Alibaba Pictures Group announced that it was to make investments into and help with the Chinese marketing of two upcoming Paramount movies, the next “Star Trek” picture and the next in the “Teenage Mutant Ninja Turtles” franchise. Alibaba previously invested in Paramount’s on ‘Mission: Impossible – Rogue Nation.”

Speaking at an event during the Beijing International Film Festival, CFC chairman La Peikang, said that the company hopes to learn from Paramount’s technology and from its business models. They will also look at co-funding and co-production.

Paramount’s vice chairman Rob Moore said that cooperation could cover production, distribution and animation.