Fifty billion yuan (US$8.2 billion) has been invested in film studio projects across China and more are planned despite 80% of existing studios posting losses.
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The gift, the second-largest commitment received to date, was made as part of the Academy Museum’s $300 million campaign. The Academy will name the museum’s film history gallery The Wanda Gallery.
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The Shenzhen Stock Exchange was verifying if Huayi Brothers Media Corporation violated market rules on proper information disclosure during its latest purchases of companies.
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As the importance of China's market continues to grow, its own domestically-made films have also seen a huge boost. But Chinese cinema, with its limited international reach, is still far from being showcased at the prestigious Oscars.
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