Hong Kong cinema is merging into the larger Chinese cinema, gaining strength and at the same time losing its own identity.
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According to Wang Jianlin, chairman and president of Wanda, the company will reduce its revenue in the real estate sector to under 50 percent by 2020, making culture and tourism its two main cash cows.
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Taking a moment in his hectic schedule, Jerome Paillard, the executive director of the market, said: "One of the most interesting aspects this year is how the Chinese delegation has evolved to better grasp the importance of the international aspect of the market.
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Entertainment celebrities attract not only huge crowds of fans but bring about opportunities for the development of the service sector. This has been perfectly demonstrated by Hengdian, a town in East China's Zhejiang province.
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Taiwan cinema is booming, reaping the benefits of closer cooperation with mainland China as well as government funding and a surge of creativity inspired by the success of pics from the self-ruled island.
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Specialist financier Screen Capital Intl. has inked a deal with former Warner Bros. Intl. Cinema exec Ira Stiegler's Red Carpet Cinemas to build 50 theaters in China over the next five years.
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