Headlines from China: Wang Xiaohui Named Head of China Film Bureau 

Wang Xiaohui

Wang Xiaohui Named Head of China Film Bureau 

It was announced on May 24 (Beijing Time) that Wang Xiaohui had been named Head of China Film Bureau. Wang was born in Jilin province in 1962 and went to law school at Jilin University. He joined the publicity department of the communist party in 1986 and became the department’s Deputy Director in 2009. Wang is also a spokesperson for the department since 2010. Previously a government agency, the Film Bureau became a part of the publicity department of the communist party in March this year as a part of China’s government restructuring. Read more on National Business Daily 

Zhang Yimou Enters Deal with Huanxi Media Group to Direct Web Series

On May 24 (Beijing Time), Huanxi Media Group announced that the company had signed a deal with famed Chinese filmmaker Zhang Yimou to exclusively invest in Zhang’s three upcoming web series. In exchange, Zhang Yimou will become a shareholder of the company, receiving 150 million shares of the company’s stock as well as 100 million yuan ($15.7 million) fee. Prior to partnering with Zhang Yimou, Huanxi Media Group had collaborated in similar ways with several renowned filmmakers, including Wong Kar-wai, Xu Zheng, Ning Hao, Peter Chan, Zhang Yibai, and Gu Changwei. Read more on Mtime

Nasdaq-listed Bilibili Releases Q1 2018 Financial Report 

Recently, Bilibili, a Chinese online video site listed on Nasdaq, released the company’s Q1 2018 financial report. According to the report, the company’s unaudited total revenue during the reporting period was 868 million yuan ($136 million), a 105% percent jump compared to the same period last year. Despite the rise in total revenue, the company ran at a loss in Q1 with net income of negative 57.8 million yuan ($9 million). Bilibili’s revenue is mainly generated from its online videos, games, advertisements, and live streaming services. Game revenue accounts for the largest percentage of its total revenue. Read more on entgroup.cn