MPAA Weighs In On China VAT Tax Issue: "The payment process has recommenced" on August 14, 2013
The official press release:
WASHINGTON - The following is a statement from Motion Picture Association of America, Inc. (MPAA) Chairman and CEO Senator Chris Dodd on the resolution of the Chinese value-added tax payment issue:
"The MPAA understands that the China Film Group stopped payments owed to MPAA studios in China pending resolution of the application of a new value-added tax (VAT) due to be implemented nationwide as of August 1.
We are pleased to hear that the Chinese government has addressed the matter and all money due will be paid in full. It is our understanding that the payment process has recommenced.
The U.S. and Chinese film industries enjoy a close and productive relationship and the MPAA is grateful to our counterpart, the State Administration of Press, Publication, Radio, Film and Television (SAPPRFT) for their commitment in resolving this matter favorably. We look forward to further strengthening our ties with SAPPRFT as the Chinese screen community continues its path to becoming a global powerhouse in the international entertainment market."
TODAY'S HEADLINES: Twelve Asian films have been added to Toronto Film Festival lineup on August 13, 2013
Twelve Asian films have been added to the Toronto International Film Festival lineup, doubling the previous amount. [Film Business Asia]
Touch of Sin director Jia Zhangke has announced a November release date for his best-screenplay winning film, which many doubted would be released due to provocative subject matter. [Hollywood Reporter]
Screen fighter Wu Jing makes his directing debut with WOLF. [Twitch]
IMAX is suing GDC Technology after the company allegedly stole its technology and sold it to China film companies. [Deadline]
TODAY'S HEADLINES: China's state council to discuss box office tax issue on August 07, 2013
China's state council will discuss issues concerning box office taxation, which have postponed payments to Hollywood for several months. [The Hollywood Reporter]
Beijing Film Market partners with Warsaw Film Foundation to launch China-Eastern Europe Film Promotion Programme. [Screen Daily]
Over 200 Chinese-language films were submitted to the 50th Golden Horse Awards, up from last year. [Film Business Asia]
CHINA: 'Pacific Rim' Triumphs with $42.5M Debut on August 06, 2013
Pacific Rim posted a huge debut in China, posting a $45.2
million five-day opening. It is the highest premiere of a Warner Bros. release
in the market and the second biggest opening for a non-Chinese film in 2013.
The massive numbers coming from China allowed the film to cross the $200
million mark overseas before hitting the $100 million milestone in North
Fast & Furious 6 came in second place after its first full week in release. The action flick is the most successful entry in its franchise. Fast 6 has posted spectacular numbers in Russia in its ten days of release, adding $25.15 million throughout the week to reach a $54.84 million cume. Fast 6 is the second biggest of the year in the global box office, behind Iron Man 3.
A pair of Sony duds in North America have found support in China; After Earth and White House Down have enjoyed rebounds in China that have helped mitigate their respective struggles at the North American box office. After Earth is currently posting a $34.48 million total, while White House Down has grossed $26.32 million.
Top 10 Films in China.
'Pacific Rim' Posts Huge Opening in China; 'Fast 6' Crosses $50M on August 05, 2013
Warner Bros. celebrated their biggest opening weekend of all time in China, raking in $42.5 million from the debut of Guillermo del Toro's Pacific Rim. The success from China pushed the film past the $200 million mark overseas. Guillermo del Toro's popcorn flick has struggled in North America, grossing $92.9 million over four weeks and occupying the bottom spot in the region's latest top ten chart. Pacific Rim's Chinese debut propelled the film to a $53 million total outside of North America, making it the weekend's highest overseas earner despite a wide day-and-debut for Sony's The Smurfs 2. IMAX screens in China contributed $6 million to the film's numbers, the second-highest opening figure of all time in China's IMAX locations. Fast 6 came in second place with an $8.3 million that raises its 10-day cume to $52.3 million.
Chinese hit Tiny Times posted a $3500 weekend at three North American locations. The blockbuster's limited release has been confined to the tiny screen count for its two weeks in release and will not expand to any additional locations by next weekend. The cume for Tiny Times in North America is $21,365.