Chinese firms Shanghai Film Group and Huahua Media are to provide $1 billion in funding for Paramount Pictures.
The cash will finance around a quarter of Paramount’s films over the next three years.
Shanghai Film Group was an investor in Paramount’s Jack Reacher: Never Go Back.
The agreement provides Paramount with access to the Chinese box office – the second biggest in the world.
The news marks the latest in a series of Chinese investments in the US film industry.
In an interview last week with Reuters, Wang Jianlin, founder and chairman of Dalian Wanda Group, said that he is still looking to buy just one more US movie studio.
Wanda agreed a $1 billion takeover of Dick Clark Productions in 2016, and already owns Legendary Entertainment and US cinema chain AMC Entertainment Holdings.