You can’t go a week without hearing of a new acquisition by Baidu, Alibaba or Tencent. While China’s Internet giants have been doing acquisitions for years, the last three months can best be described as a frenzy.
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It was said that a second distribution license to import and release movies in China is being issued to the China National Culture & Art Corporation (CNCAC).
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In just two days, the platform has attracted 240,000 users, each of whom are investing $16-$160 in hotly anticipated upcoming movies, such as "Wolf Totem" and the next "Tiny Times" film.
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