Headlines from China: Tencent Pictures’ CEO Takes Over China Literature Limited

Tencent Pictures’ CEO Takes Over China Literature Limited

On Monday, China Literature Limited announced replacement changes to its management team. Mr. Wu Wenhui and Mr. Liang Xiaodong, currently the Co-Chief Executive Officers have decided to step down from their positions. In the meantime, Mr. Cheng Wu, the Vice President of Tencent Holdings Limited and the CEO of Tencent Pictures, has been appointed as the CEO of China Literature Limited. In his open letter to the public shareholders, Mr. Cheng Wu revealed his plans to level up China Literature Limited’s game to turn it into “a content ecosystem where it can cultivate more IPs and lead the film business in China”. Read more on yiqipaidianying

Hong Kong’s Film Business Under Lockdown

While film productions in mainland are slowly getting back on track, the film industry in Hong Kong is still looking pretty gloomy. Many films that were planned for 2020 release have to be postponed or canceled. It is even said that since January 1st, 2020, there was only one film that went through production in Hong Kong. Since the coronavirus outbreak started, a lot of Hong Kong film professionals have had to make career changes. This detailed report provided an overview of the current Hong Kong film industry and how these professionals are copying with this crisis. Read more V_Mtime