Headlines from China: Chinese Film Companies Explore International Market at Cannes

Chinese Film Companies Explore International Market at Cannes

The 71st Cannes Film Festival raised curtain on May 8. While only few Chinese films will be screened as part of the festival, an increasing number of Chinese companies come to the Cannes Film Market (Marché du Film), the business counterpart of the festival, to explore international business opportunities. Led by China Film Promotion International (CFPI), a national-level platform set by SAPPRFT to promote Chinese movies overseas, this year’s Chinese delegation brought over 80 films to the market. In addition to buying and selling films, participating Chinese companies are also interested in discovering new cinematic technologies and finding co-production partners at the market. Read more on ifeng.com

Wanda Film to Add 100 Cinemas in 2018

Recently, Wanda Film hosted an online conference to answer questions from investors regarding the company’s performance in 2017. Executives from Wanda Film addressed investors’ concerns over decreased profit margin, high debt asset ratio, and the slowness of the company’s assets restructuring. In addition, investors are concerned about Wanda’s investment deal with Alibaba and Cultural Investment Holdings. The deal was made in February this year, yet hasn’t been completed. Despite all the aforementioned concerns, Wanda plans to continue to expand its film exhibition business in 2018, adding about 100 cinemas with 800 screens. Read more on yulechanye

‘Rampage’ to Extend Theatrical Run in China

It’s announced today that the theatrical release of Rampage will be extended to June 12 in China. Currently, the film’s China box office earnings is reaching 1 billion yuan ($157.5 million). Since its opening on April 13, Rampage has been able to maintain a strong momentum in the middle kingdom, despite competition from various new releases since then. Among all the foreign films released in China this year, Rampage is the second highest grossing film following Ready Player One. Read more on Mtime