Hollywood studios have been falling over themselves in recent years to get an edge in the growing Chinese marketplace and for the first time ever it's abundantly clear why. For the first time, China's box office took in more money last month than American theaters.

The $650 million dollar month in China was fueled by homegrown films, not American blockbusters.

China's top-grossing movies were The Man From Macau II starring Chow Yun-Fat  ($104 million), the historical action flick Dragon Blade starring  Jackie Chan, John Cusack and Adrien Brody ($95 million), and Jean-Jacques Annaud-directed Wolf Totem ($72 million).

The U.S. -- historically the undisputed king when it comes to putting the cinematic numbers on the board -- was only behind by $10 million. But Hollywood is used to being completely unchallenged and it seems that might be changing.