China could soon become a huge boon to Hollywood. Not that it's doing too shabby right now.

U.S. Vice President Joe Biden announced Friday that China has agreed to "significantly" increase the number of American films it allows to enter its theaters this year, bringing it into a market that itself generated more than $2 billion in ticket sales last year.

Chinese audiences love 3-D, and that helped make "Transformers: Dark of the Moon" the top seller there this year. Yet, the Chinese government allows less than a dozen American films to be imported every year. There is really no rhyme or reason on what movies are selected, but it's likely those that don't negatively portray China in any way.

"Transformers" banked $172 million of its international sales in China alone. That was 22 percent of the film's entire international take, which raked in $1.1 billion worldwide, including American ticket sales, according to The Numbers.

The agreement comes on the heels of the United States winning its case in front of the World Trade Organization, claiming back in 2007 that China's restrictions on film violates membership policies as part of the WTO. The international organization ruled in the United States' favor and ordered China to start importing more American films by last March. However, China said it couldn't meet that deadline, according to The Wrap, and has been negotiating with the American government ever since.

Allowing more films in China will not only help maintain and create more jobs in America's moviemaking centers, but also help curb piracy, which has hit many studios hard. Because many films are inaccessible through legal means, China has a huge black market in films not officially released. By making these films available in theaters, Chinese moviegoers hungry for American films may not have to resort to the black market to see those films.

"U.S. studios and independent filmmakers cite China as one of their most important world markets, but barriers imposed by China and challenged by the United States in the WTO have artificially reduced the revenue U.S. film producers received from their movies in the Chinese markets," said Ron Kirk, the U.S. trade representative to China, in a release. "This agreement will help to change that, boosting one of America's strongest export sectors in one of our largest export markets."

Biden has spent Friday in Los Angeles, where many American movies are made, with his Chinese counterpart, Xi Jinping.