China hopes to put its foot in the door in Hollywood, and it's already got a big project - the next Iron Man movie. Iron Man 3 will be produced by Disney and Chinese partner DMG Entertainment.

"We know Chinese audiences love Iron Man. So we are going to add Chinese elements and a Chinese story into Iron Man 3," said Stanley Cheung, Disney’s general manager for Greater China, at a news conference. Could Iron Man's foe Mandarin be making an appearance?

China's movie box office rakes in $2 billion - paltry compared to the United States' $10 billion. Iron Man and Iron Man 2 pulled in over a billion dollars worldwide for Disney.

Currently, the communist country limits the amount of overseas features allowed in theaters, but is willing to increase it if more 3-D and IMAX films are produced and offered to China.

DMG Entertainment is also co-producing sci-fi flick Looper, which is due in theaters in September.