Headlines from China: The 2nd Pingyao International Film Festival Open for Submissions

The 2nd Pingyao International Film Festival Open for Submissions

The second edition of the Pingyao International Film Festival (PYIFF) is set to take place from October 11-20 this year, according the festival’s official website. The festival also announced call for submissions, seeking films from all around the world. The deadline for submitting is August 15. Founded by acclaimed Chinese filmmaker Jia Zhangke and curated by Italian industry veteran Marco Mueller, the inaugural PYIFF successfully took place in October, 2017. The festival strives to discover and support emerging talents as well as showcase great works by established filmmakers worldwide. Read more on Mtime

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Fundamental Films Saw $127 Million Loss in Two Years

After Luc Besson’s Valerian and the City of a Thousand Planets flopped at the box office last year, its Chinese investor Fundamental Films has been struggling financially. The company’s 2017 financial report shows a total loss of 541 million yuan ($89 million) in net revenue despite a 125% growth in total revenue. In 2016, the company lost 265 million yuan ($42 million), as three films it invested in that year all failed at the box office. In total, Fundamental films has lost 800 million yuan ($127 million) over the past two years. Due to the financial crisis, Fundamental Films has also laid off two thirds of its employees in 2017. Hope is pined on the company’s upcoming film Genghis Khan, which starts Jelly Lin and William Chan, and is set to release on April 28. Read more on yiqipaidianying

It’s Time for Western Filmmakers to Study the China Market Says Wang Zhonglei

Co-production has always been a hot topic at the Beijing International Film Festival. In the past, the co-production panel was usually centered around how to produce films that could be appreciated by a global audience. Yet, this year, Huayi Brothers CEO Wang Zhonglei expresses that “as China grows into the World’s largest film market, it’s time for western studios and filmmakers to study the China market and figure out how to produce films that can resonate with the Chinese audience.” In addition to Wang Zhonglei, this year’s co-production forum also features Steven O’Dell, president of theatrical distribution at Sony Pictures, director Rob Minkoff, and Beijing-based Renny Harlin. Read more on Sohu

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Chinese Film ‘The Pluto Moment’ to Debut at 2018 Cannes Directors’ Fortnight

The 2018 Cannes Film Festival announced its lineup for this year’s Directors’ Fortnight. Chinese director Zhang Ming’s The Pluto Moment is among the films to be screened in this section. The film also marks the director’s first Cannes entry. As a sidebar of the Cannes Festival, Directors’ Fortnight is known for presenting independent and innovative cinematic works. Last year, Chinese filmmaker Chloe Zhao’s The Rider debuted at Directors’ Fortnight and won the section’s top prize. Read more on Mtime