‘Horse’ wins China release derby

Sony’s “The Water Horse” looks set to be the first pic to break China’s blackout on foreign movies when it bows here on Feb. 16, a week before the previously announced “Atonement” on Feb. 22.

Industry sources said “The Water Horse,” a Loch Ness monster adventure for tykes, would open as the first full revenue-sharing movie, in both digital and 35mm formats.

No new Hollywood movies had been approved for release since November — extending what has become an annual December blackout. This protects Chinese tentpoles, this year “Assembly” and “Warlords,” during the lucrative Christmas and Chinese New Year period.