China to Eliminate SAPPRFT as Part of Government Restructure
China will abolish the State Administration of Press, Publication, Radio, Film and Television and form a new media regulatory body under closer control of the State Council, according to an official statement made on March 13 (Beijing Time) at China’s annual “two sessions.” According to the statement, the new regulatory body will oversee the country’s radio and television sectors. It remains to be seen how the press, publication, film and game sectors will be regulated. Read more on yuleguan001
Stephen Chow Starts Filming ‘The Mermaid 2’
Renowned Hong Kong filmmaker Stephen Chow has started filming The Mermaid 2, the sequel to box office hit The Mermaid, according to sources familiar with the matter. The Mermaid 2 will again star Jelly Lin as the mermaid, according to Lin’s post on Chinese social media Weibo. Released in 2016, The Mermaid raked in 3.4 billion yuan and went on to become the highest-grossing film in China until Wolf Warrior 2 broke the record in 2017. Read more on Mtime
52TOYS Raises 100 Million Yuan in Series A Funding, Aiming To Be China’s BANDAI
Today, Chinese toy company 52TOYS announces that the company has raised 100 million yuan in series A funding. This marks the largest financing deal in the IP merchandise sector in China. Founded in 2015 when China’s film market was exploding, 52TOYS soon became a leading toy company that specializes in toy products based on film IPs. Currently, the company has designed over 1000 products and signed IP licensing deals with popular films and games such as The Transformers franchise, Honor of Kings, and Alien . The funds received this time will be used to expand their production design and sales departments. Read more on entgroup.com
Actor Tong Daiwei and His Wife To Be The Chinese Ambassadors for ‘The Shape of Water’
The Shape of Water has announced its ambassadors for China, actor Tong Dawei and his wife Guan Yue. A film poster with the couple holding hands has been released for the China market. According to the film’s distributor, Tong and Guan are known as a model couple to the Chinese public, which fits the romantic theme of the film. Receiving Best Picture and three other Oscars this year, The Shape of Water is set to release across China on March 16. Read more on Mtime
