China’s film industry, like many sectors of the entertainment industry, suffered a catastrophic blow due to the COVID-19 outbreak and subsequent lockdowns since the end of January.
Movie theatres around the world have had to close down as well when public health concerns became apparent in respective countries, causing global box office revenues to record a RMB 30 billion (US$7 billion) loss by mid-March.
In China, as many as 70,000 cinemas have been shut, with distributors suspending the release of domestic and foreign blockbusters, and a further 6,600 films and TV productions coming to a halt.
Acknowledging the losses suffered by this industry, the Chinese government has introduced support policies in various forms to keep it afloat, including preferential tax policies, fee waivers, consumption vouchers, and special funds.
Read more:https://www.china-briefing.com/news/chinas-film-industry-benefit-new-support-policies-tax-breaks/