• Reuters, Friday, June 29, 2012 2:09 PM

China, the world’s most populous nation, is about to get its own version of Netflix. The government-run China Movie Channel on Thursday said it would launch an online service, which could be a boon for Hollywood studios and other content owners.

The new service, which has yet to be named, will open in the fourth quarter, its backers told Reuters. Viacom Inc.’s Paramount Pictures will be among its content providers, they said, adding that they are negotiating similar deals with Metro-Goldwyn-Mayer and other studios.

Hollywood studios have been largely excluded from doing business in the country due to government-imposed import limits. 

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