Chinese Film Industry Booms During the Country’s ‘Golden Week’
Following the reopening of cinemas for China’s eight-day National Day holidays, the Chinese mainland film industry has almost recovered to the pre-pandemic level. Official data published on Thursday by National Film Special Fund Office shows that the box office of Chinese mainland on October 1-7 has reached 3.69 billion yuan ($544 million), which ranks the second for the holiday in the Chinese film history. Moviegoers are excited about their cinema experiences getting “back to normal”, and industry insiders and platforms predict that the golden week box office amount will account for around 20 percent of the whole year’s box office. Read more yiqipaidianying
Young People’s Favorite Video Site Bilibili Prepares a Secondary Listing in Hong Kong
The Nasdaq-listed Chinese video site Bilibili is said to be planning a secondary listing in Hong Kong in 2021 that can help the company raise between $800 million and $1.5 billion. Popular with the Chinese millennials and generation Z, Bilibili is one of the largest Chinese video-sharing platforms with a monthly active user base of more than 170 million. The company went public in Nasdaq back in March 2018, which raised around $483 million in total. Its plan for a secondary listing in Hong Kong marks the latest trend of mainland Chinese company moving from U.S. stock market to Hong Kong amid the rising tensions between Beijing and Washington. Read more Kevin in Finance
