Headlines from China: Sun Hongbin Resigns as Leshi Chairman

Sun Hongbin Resigns as Leshi Chairman

Sun Hongbin will step down as the Chairman of Leshi, the listed arm of LeEco, according to an official announcement made by the company today. The statement didn’t provide a clear explanation for the resignation. Liu Shuqing, the current General Manager of Leshi, is appointed as interim chairwoman. Once a rising star, LeEco has now become a headache for investors and creditors as years of reckless expansion led the company into a debt impasse. After resuming trading in January, Leshi’s stock has been volatile. Read more on Entertainment Capital

Recommended ReadingHow LeEco Fell From GloryBy Qu Yunxu, Sun Congying, Yue Yue, Wu Hongyuran, An Limin, Qin Min and Han Wei

Hirokazu Kore-eda’s Award-wining Film ‘The Third Murder’ Scores China Release Date

The Third Murder,  which was selected as Picture of the Year by the Japanese Academy Awards, will be released in China on March 30 through the National Alliance of Arthouse Cinemas. Directed by Hirokazu Kore-eda, this legal thriller film was also screened in the main competition section of the 74th Venice International Film Festival. The director was known for combining western logics and eastern aesthetics in his films. In this movie, he stepped out of his comfort zone with a more family-oriented story. Read more on Mtime

Zhang Yang to Direct Film Trilogy about China’s Hippie Town Dali

Recently, China’s State Administration of Press, Publication, Radio, Film and Television (SAPPRFT) announced a list of film scripts that had been approved for production. According to the announcement, the film bureau received 179 applications in February, a 45.9 percent decrease compared to January. The announcement also reveals that Zhang Yang, the director of arthouse hit Paths of the Soul, has three upcoming films, namely, Exam Journey of Maomaoguo, The Voice of Dali and Volcano. These three films will be produced by Hehe Pictures and set in China’s hippie town Dali. Read more on Mtime

Chinese Film Exhibitors Face Fierce Competition

Although China now has the most cinema screens and the second largest film market in the world, operating movie theaters in China is not as profitable as many would assume. According to data provided by Ent Group, more than half of movie theaters in China lost money in 2017. In order to survive, some exhibitors start to participate in movie production and distribution, while some choose to diversify and upgrade services to increase revenue. Read more on yiqipaidianying