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China's box office hits 23.9 billion yuan in H1

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      China

      China

      China's box office hits 23.9 billion yuan in H1

      2024-07-02 01:09 Last Updated At:02:17

      China's box office earnings in the first half of 2024 surpassed 23.9 billion yuan (about 3.2 billion U.S. dollars), data from the China Movie Data Information Network showed Sunday.

      Topping the chart was domestic comedy-drama "YOLO", which tells the story of an unemployed woman in her 30s who still lives with her parents until she meets a boxing coach who may change her life. The film raked in 3.46 billion yuan in box office earnings.

      Other hits included comedy-dramas "Pegasus 2" and "Article 20", which pocketed 3.39 billion yuan and 2.45 billion yuan, respectively.

      The country's movie industry kicked off the new year with a record high revenue of approximately 1.53 billion yuan (about 216 million U.S. dollars) for the three-day New Year's Day holiday. Box office revenue during the eight-day Spring Festival holiday exceeded 8 billion yuan (about 1.13 billion U.S. dollars), with domestic comedy movies accounting for over 97 percent of the total earnings.

      The box office revenue for the summer movie season, which runs from June 1 to August 31, had reached 2 billion yuan (about 275 million U.S. dollars) by Saturday.

      More Chinese productions are slated to hit the big screen this summer. Reports show that 88 movies have already been rounded up as of July 19.

      China's box office hits 23.9 billion yuan in H1

      China's box office hits 23.9 billion yuan in H1

      China's box office hits 23.9 billion yuan in H1

      China's box office hits 23.9 billion yuan in H1

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      Experts stress effective policy implementation to boost private sector growth

      2025-02-19 14:43 Last Updated At:15:07

      The national policies aimed at bolstering the private sector must be tangible and accessible to businesses and require inter-departmental coordination to ensure they achieve the intended outcomes, experts said on Tuesday.

      China on Monday held a key symposium on the private economy, which was attended by President Xi Jinping and brought together representatives from some of the country's most eminent private companies. In a speech delivered at the symposium, Xi stressed the importance of strictly implementing supportive policies and measures to advance the growth of the private sector.

      Echoing Xi's speech, Huang Hanquan, director of the Chinese Academy of Macroeconomic Research under the National Development and Reform Commission (NDRC), said he believed the current priority was ensuring the full and uncompromised implementation of government policies targeting the private economy.

      "A raft of policies have already been introduced [to support] the private economy. However, the key is to ensure that these policies are effectively implemented and truly accessible to the private businesses to allow them to feel the tangible benefits," Huang told CCTV.

      Bai Chong'en, dean of the School of Economics and Management at Tsinghua University, noted that during the implementation process, it is essential to ensure coordination and consistency across different policies to maximize their collective impact.

      "It's about coordination between government departments to avoid contradictions between detailed policy provisions during the implementation. As we've repeatedly emphasized, policy consistency is key. It is only when there is consensus on certain issues that we can pull together towards the same goal with one mind," said Bai.

      Monday's symposium also highlighted the government's commitment to removing obstacles that prevent private enterprises from equally accessing production factors and participating in market competition. Experts believe that several key sectors will open their door wider to private businesses.

      Official data showed that private investment in infrastructure grew by 5.8 percent in 2024, 1.4 percentage points higher than the overall growth rate for infrastructure investments. The symposium proposed continuing to promote fair access to competitive sectors of infrastructure for all kinds of market entities.

      "This means creating more space for private enterprises' development, or in other words offering wider access for them. This will allow private enterprises to have more opportunities to participate in infrastructure investments, as these investments feature relatively stable operations and returns. This is also a field that private enterprises have long been eager to enter," Huang said.

      In October 2024, China released a draft of its first basic law focused on the development of the private sector for public input. The draft, with 77 articles in nine chapters, features equal treatment and protection of private sector businesses.

      "For example, one important part of the draft of the private sector promotion law is meant to create an equal environment for competition, allowing private enterprises to equally access resources, participate in government projects, and enter the market. I believe that private enterprises are eager to make contributions, and if they are given the opportunity to do so, they will be able to achieve greater development," said Bai.

      Experts stress effective policy implementation to boost private sector growth

      Experts stress effective policy implementation to boost private sector growth

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