The UK does have a film industry, thank you very much, but the problem with it is that its output very rarely gets shown in America, and that's where the big film industry is. Second only to Bollywood, as I recall. For example, I understand that Children of Men is out in cinemas in the US now; we had that three months ago.
That's not to say that all British films are seen by us first, though. I just came back from a British film - Miss Potter, starring Renee Zellweger - it was funded by the UK arts council and the BBC, and yet was only released this week, whereas it 's been out in the USA since December. I think Zellweger might have had something to do with this, though...
And to go back to the topic: I found Unleashed to be a better film than Fearless, but only because Fearless (despite the pseudo-biopic element to it) is pretty much formulaic Jet Li action. Unleashed throws him into an unfamiliar setting; less Asian wire-fu, more Glasweigan gangsters.