Mainland China’s box-office receipts reached US$455 million in 2007, a 26% year-on-year increase over 2006, the Wall Street Journal reported. Following the news, China Film Group, the country’s biggest film producer and distributor, announced on its website that it is planning a domestic IPO in 2008, making it the first mainland film company to list publicly. China produced 402 films last year, also a record high. Two of the year’s top-grossing films – "The Warlords" and "The Assembly" – were Chinese co-productions. Foreign films, accounted for 46% of China’s box-office revenues last year. American movies alone made US$158 million in China, up 37.6% from 2006.