Headlines from China: Chinese Media Firm The One Injects Over $1 Billion to Build ‘IP Bank’

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Chinese Media Firm The One Injects Over $1 billion to Build ‘IP Bank’

On September 4, Chinese media firm The One surprised the industry by making two announcements. First, the company will invest 8 billion yuan ($1.22 billion) to build an ‘IP Bank’, where the company manages its IP assets by connecting IPs with capital and talents, in order to ultimately maximize each IP’s commercial potential. In addition, the company will partner with Le Vision Pictures on a few IP based film projects, including a remake of Louis Cha’s classic wuxia story ‘The Return of the Condor Heroes’ featuring acclaimed filmmaker Tsui Hark. Read more on Ent Group

John Woo’s ‘Manhunt’ to Open across China on November 24

Renowned Hong Kong filmmaker John Woo’s latest action thriller ‘Manhunt’ will open theatrically across China on November 24, which was announced at the film’s press conference on September 5. ‘Manhunt’ marks Woo’s return to the action genre after him making studio blockbusters in Hollywood and directing epic dramas in Asia over the past 14 years. The world premiere of ‘Manhunt’ will be presented at the 74th Venice Film Festival as a special screening. The director and his cast and crew members are heading to Venice on September 6 to attend the premiere. Read more on Sohu

Chinese Filmmaker Lu Chuan Partners with Investors to Build China’s Burbank

Recently, two Chinese investment firms along with filmmaker Lu Chuan‘s team signed a deal with the government of Beijing Heizhuanghu Township to build a film town in Beijing’s Chaoyang District. Lu worked in Burbank, a city built as the ‘Media Capital of the World’ and only a few miles a way from Hollywood, for half a year during the post production phase of his documentary ‘Born in China’, and was inspired to build such a town in China. Lu’s major intentions of building a film town are to support emerging filmmakers as well as cultivate a supportive and resource-sharing community to facilitate the development of China’s media and entertainment industry. Read more on Sina

Chinese Video Sharing Site AC Fun Faces Fines for Violating Government’s Content Policies

According to a statement made by Beijing cultural regulatory agency, the city is enhancing its regulation and supervision of video sites with overlaid comments on videos. AC Fun, the first and one of the most influential websites of such type is named and punished by the regulator for improper content. In addition to facing fines of RMB 120,000 yuan ($18,316), AC Fun has also shut down its film, politics, and military channels. Read more on TMT Post

Han Sanping’s First Web Series to be Available on iQiyi in September

A press conference was held on September 5 in Beijing for upcoming Chinese web series ‘Burning Ice’ (《无证之罪》), which will be released on streaming site iQiyi on September 6. The web series is executive produced by China Film Group’s Chairman Han Sanping and stars acclaimed Chinese actor Qin Hao (‘Spring Fever’, 2009). Neither Han nor Qin had participated in the production of a web series before. “Web series is a new form of entertainment, which gives content creators more freedom to creatively tell stories. It is a great medium for a new generation of storytellers.” Says Han Sanping. Read more on Mtime