Marvel released a new press release saying that “Iron Man 3” will be co-produced and filmed in China.

The executives of each company all offered words of praise and excitement over the deal.

“The popularity of the Marvel franchise globally creates a huge opportunity to deliver fans yet another action packed film,” said Stanley Cheung, Managing Director, The Walt Disney Company, Greater China.

“The co-production of IRON MAN 3 in China is testimony to the importance of this audience to Disney and the local industry capability to deliver a blockbuster title,” he added.

“We look forward to working alongside DMG to bring IRON MAN to the Chinese marketplace in a significant way. We are confident that Marvel’s stories will continue to be enjoyed by Chinese audiences, and adding a local flavor, and working with our new local partner, will enhance the appeal and relevance of our characters in China’s fast-growing film marketplace,” said Rob Steffens, General Manager of Operations and Finance for Marvel Studios.

“Our collaboration with Disney and Marvel marks a milestone in the global entertainment landscape, as this signifies the first multi-billion dollar franchise to be produced between Hollywood and China,” said Dan Mintz, CEO of DMG Entertainment.

Filming in China will certain fuel more rumors than the comic book villain Mandarin, Chinese in origin, will indeed be a part of the story or the possible “Iron Man 4.”

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