Decreasingly so.
Since the pandemic, only one new US movie has gotten a scheduled release in China, as I recall, and that just happened this month. China wants to have its own movie industry as a way of spreading their message/cultural imperialism. (For instance, most of the Arab-speaking world gets a lot of cultural cues from Egypt, where the Arab-language movie industry is based. Nigeria is similarly culturally dominant in the African film world. And everyone knows about Bollywood.)
World of Warcraft just pulled out of China indefinitely, as the third-party licensor apparently decided to low-ball Blizzard for the game. WoW was huge in China, to the point that it helped shape the game globally and now that's just, poof, over. (A fact that is presumably freaking people out at Activision-Blizzard.)