Headlines from China: China’s Largest Streaming Site iQiyi Considers IPO in the U.S.

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China’s Largest Streaming Site iQiyi Considers IPO in the U.S.

iQiyi, China’s largest online streaming site, considers seeking initial public offering in the U.S. in 2018, according to sources familiar with the matter. The sources also mention that iQiyi is about to start conversations with financial institutions in hopes of getting an evaluation at up to $10 billion. Founded by Baidu in 2010, iQiyi is the only company that has been licensed by Netflix to stream Netflix shows in China. Currently, the company faces fierce competition with Alibaba’s streaming platform Youku Tudou and Tencent’s video platform Tencent Video. Read more on Tencent Tech

IMAX Partners with Dadi Cinema to Build Another Five Theaters in China

On September 26 (Beijing Time) IMAX announced with China’s second largest cinema investment firm Dadi that the two companies had signed a deal to jointly build five IMAX theaters in tier one, tier two, and tier three Chinese cities. Back in January 2017, Dadi Cinema bought Orange Sky Golden Harvest‘s entire China operations, which include five IMAX theaters. The new deal between IMAX and Dadi will make Dadi an operator of ten IMAX theaters in China. Read more on Ent Group

Alibaba Digital Media and Entertainment Group Acquires Gaming Company Ejoy

On September 26 (Beijing Time), Alibaba Digital Media and Entertainment Group announced that the company had just acquired Chinese gaming company Ejoy. Founded in 2011 by Zhang Zhonghui, former COO of Chinese internet giant NetEase, Ejoy has grown into a leading game company in China with about 4,000  employees. The worth of Chinese game market was  160 billion yuan in 2016, and is expected to reach 200 billion yuan this year. By acquiring Ejoy, Alibaba aims to further develop its entertainment arm and enhance the company’s ability to develop and monetize IPs. Read more on Sina

Chinese Filmmaker Da Peng in Dispute with Film Critic Over Negative Review

‘City of Rock’, a Chinese comedy to be released during the upcoming Oct. 1 National Day holiday, received a negative review from film critic Er Yue Niao Yu. Director of the film Da Peng called out the film critic on Chinese social media WeChat, accusing the film critic for maliciously giving the negative review without even watching the film. The film critic, however, denied such accusation and claimed that the filmmaker was setting up a publicity stunt. Beijing Enlight Media, one of the film’s producers, states that the company will reveal more details regarding this dispute after investigation. Read more on Mtime

Chinese A-lister Zhao Wei to Join the Jury of the 30th Tokyo International Film Festival

The 30th Tokyo International Film Festival announced this year’s jurors. Chinese actress Zhao Wei will join the jury to judge the festival’s main competition section. The festival named actor and filmmaker Tommy Lee Jones as the chairman of the jury. As one of the most popular actresses in China, Zhao Wei became famous for her performance in hit TV drama ‘Huan Zhu Ge Ge.’ She then acted in hit movies, such as Stephen Chow‘s ‘Shaolin Soccer,’ John Woo‘s ‘Red Cliff,’ and Johnnie Do’s ‘Three.’ She was a juror for the 73th Venice Film Festival in 2016. Read more on Mtime