The speed with which the Chinese film industry has developed in recent years has been dizzyingly fast, even for the country’s most experienced veterans. “Less than a decade ago it was the filmmakers who went out looking for financing,” Alibaba Pictures CEO Zhang Qiang told a forum on finance and film at the Shanghai International […]
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Alibaba Pictures Invests in Hangzhou Cinema Company
Alibaba Pictures, the entertainment arm of the Chinese e-commerce giant, is investing RMB 100 million (US$15.2 million) for an 80 percent stake in a movie theater operator in its hometown of Hangzhou, as it takes on rival Dalian Wanda. The company will acquire around 61 percent of Hangzhou Xingji from shareholder Hangzhou Kunwei for RMB […]
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Chinese Online Gaming Firm Giant Interactive Gets into Pictures
Chinese online game developer and operator Giant Interactive Group is getting into China’s booming movie business, local media reports said. According to the reports on Monday, the company has formed a new subsidiary called Giant Pictures (Jùrén Yǐngyè / 巨人影业) It is the first major move Giant has made since it was privatized in 2014 […]
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Top 3 Funding Stories From China This Week: CrazyCDN, Suishouzan, Mtime
CDN Provider CrazyCDN Lands $10 million USD Series A CDN (Content Delivery Network) Provider CrazyCDN announced a $10 million USD series A led by Morningside Ventures. The Shanghai-based company is co-founded by Alibaba’s Xiao Zhi Ming and Alibaba vice president Dr. Lu Peng. Wealth Management Company, Suishouzan Receives Several Million RMB Seed Funding From Gobi Partners Wealth management company, Suishouzan […]
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China To Halt New Entertainment, Tech Stocks To Stave Off Market Bubble
In a bid to head off a speculative bubble, China’s securities regulator is set to bar companies from selling new shares to fund investments in film and television, online gaming, internet finance and virtual reality, fields that it deems non-core businesses, a leading national magazine reported. Citing two unnamed sources, one at the China Securities […]
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Market Snapshot: China’s Highly Consolidated Online Movie Ticketing Market
The Chinese box office has soared in recent years and the growth is projected to continue. The movie ticket sector is a hot target for tech companies who’ve been sniffing around conventional industries for business opportunities. China’s online movie ticket sales as a percentage of total sales reached 75% in July 2015, according to market research firm Eguan and the […]
