The country with the world's largest potential moviegoing audience appears to be inviting foreign investment right as growth in the sector finally begins to slow.
After years of restrictions on virtually every front of its massive film sector, China has cracked the door open to foreign movie theater chains.
"In the context of the trade war, there is a tendency for small concessions to be made here and there, and this is probably one of them," says Mathew Alderson, a partner at Harris Bricken Attorneys & Consultants in Beijing. "It's hard to imagine that they would have taken this step had that meeting resulted in an escalation of tensions."
How much opportunity for growth is left for foreign firms to capitalize on in China's massive exhibition sector is another question. "You certainly can't say that companies going into theater construction in China now will be getting in on the ground floor," points out Lindsay Connor, a partner at Manatt, Phelps & Phillips, who regularly represents Chinese studios in international deals.
In the first half of 2019, ticket sales revenue in China fell 2.7 percent compared to the same period last year, according to Artisan Gateway's data. Most observers have blamed the drop on a downturn in domestic film production caused by Beijing's tax crackdown andover the past year, along with other domestic financing challenges. But an increase in average ticket prices — from $5.17 in 2018 to $5.61 this year — has masked a more worrying trend: a 10.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sorry, Kendall Jenner Doesn't Care About How Long You're Supposed to Wash Your Face'As corny as it might sound, my acne journey helped me find myself in the process; it made me realize my worth and pushed me to be even more confident.' ELLE caught up with kendalljenner to talk skincare and her proactive partnership.
Read more »
Now Is the Time to Get Into Land Art Pioneer Agnes DenesBefore her long-overdue career survey opens this fall at The Shed in New York City.
Read more »
'The Hills' Reboot Star Brandon Thomas Lee Doesn't Know Who Lauren Conrad IsThe son of Pamela Anderson and Tommy Lee opens up about joining 'The Hills: New Beginnings.'
Read more »
33 Body Language Clues You Should Look For On Your Next DateSee if he's into you before he even opens his mouth.
Read more »
Nick Godejohn Recalls ''Magical'' Days With Gypsy Rose BlanchardIn his first interview since being sentenced to life in prison, Gypsy Rose Blanchard's former boyfriend Nick Godejohn opened up about the days leading up to murdering Dee Dee Blanchard: 'I enjoyed every second of it.'
Read more »
33 body language signs that mean he's into youSee if he's into you before he even opens his mouth.
Read more »