Headlines from China: China’s National Holiday Week Nurtures Cinematic Revival

China’s National Holiday Week Nurtures Cinematic Revival

Boosted by two new blockbusters, “My People, My Homeland” and “Jiang Ziya: Legend of Deification”, the vacation saw box office results of around 2.94 billion yuan ($433.1 million) as of Monday, close to the same period last year and twice as much as in the time period in 2018, according to movie information tracker Beacon. The high box office figures and online praise for National Day blockbusters have sent “a positive signal” to the whole industry, exports predict that the current performance of these films will encourage film companies to release more quality new films, as shown by the announcement of several films aimed at the golden time before and during the 2021 Spring Festival. Read more dypf box office

iQiYi Provides Internal Review to Counter WolfPack Allegations

On October 5, Chinese streaming firm iQiyi provided an update on the status of its “Internal Review”. Back in April 2020, short-seller firm Wolfpack Research issued a report that accused iQiyi of fraud and inflating its numbers, which eventually prompted a SEC’s investigation into the company. According to iQiyi’s update announcement, the “Internal Review” within the agreed scope has been substantially completed and did not uncover any evidence that would substantiate those allegations made by Wolfpack. IQiyi also stated that it will continue to cooperate with the ongoing SEC investigation although it is unable to predict the outcome or impact of the investigation. Read more iFeng news