CMC Capital Partners, a government-backed fund that invests in global media and entertainment, has bought a 20 percent stake in Imax Corp's China business to help broadcast Chinese culture content to the international markets.

Imax said it sold the stake in its Chinese cinema unit to Shanghai-based CMC Capital and FountainVest Partners, a Chinese private equity firm, for US$80 million.

"The deal accelerates the growth of China's movie and entertainment sector and increases the presence of premium China entertainment content in the global market," Li Ruigang, CMC Capital's chairman, said in a statement.

Imax has more than 800 big screens globally, with 173 screens in China. The investment will help Imax add 237 new screens in the country.

The deal is also seen as a prelude to Imax China's planned initial public offering in Hong Kong, analysts said.

China's box office hit 6.7 billion yuan (US$1.1 billion) in the first quarter of this year, up 30 percent year on year, according to Beijing-based research company Entgroup.