Peel-LogoPinewood Shepperton, which is 58% owned by Peel, and the owner of Europe’s largest film studio, has signed a joint venture with media group Seven Stars, run by the Chinese media entrepreneur Bruno Wu.

The joint venture, Song Lin, intends to explore co-productions, seek to source finance for Chinese productions, develop training courses and, in due course, look to create and develop film-themed entertainment venues.

Peel is the owner of MediaCity and several other assets in the North.

It is privately-owned company based in the Isle of Man with its operational HQ in Manchester.

The PM David Cameron added his name to the statement saying that: “Pinewood is leading the way, taking advantage of China’s thriving entertainment and media sector and building on Britain and China’s growing trade relationship.”

Pinewood’s chief executive Ivan Dunleavy added that the development could provide “significant opportunities” for film and television producers in the UK.

Pinewood, which also owns studios in Canada and Germany and is building facilities in Malaysia, is also hoping to expand at its home base in Buckinghamshire.