Chinese Movie Industry Screens Business Tragedy
Theatregoers are demanding a rewrite of China’s cinema script. Lockdowns pushed movie ticket sales to a 10-year low during the recent Dragon Boat Festival holiday weekend. The country is still energetically adding new theatres – a statistic that used to excite Hollywood bigwigs seeking more venues for big-screen blockbusters. The question is whether China’s citizens will return to fill the seats. Read more Reuters
Alibaba, Bilibili Extend Gains as China Approves More Games
US-listed Chinese stocks are on course for a third day of gains after China approved a second batch of video games this year, marking a further softening in the country’s stance toward internet firms. The Nasdaq Golden Dragon China Index rose as much as 2.8% on Wednesday, extending an 8.9% rally in the previous two sessions. Read more Bloomberg
