For decades, Hong Kong was the third largest motion picture industry in the world (after Indian cinema and American cinema) and the second largest exporter. Despite an industry crisis starting in the mid-1990s and Hong Kong's transfer to Chinese sovereignty in July 1997, Hong Kong film has retained much of its distinctive identity and continues to play a prominent part on the world cinema stage. In the West, Hong Kong's vigorous pop cinema (especially Hong Kong action cinema) has long had a strong cult following, which is now arguably a part of the cultural mainstream, widely available and imitated.